To those who don’t know yet Microsoft recently announced that a Xbox Dashboard update will be scheduled for Xbox Live on August 11. The update is set to include these new features…

• Games on Demand.
• There is going to be an Avatar Marketplace and Avatar Awardables.
• The ability to rate games.
• Changes in the way your achievements are displayed.
• Account Recovery resources.
• Friends list sorting options (alphabetically, last login, activity etc.).
• Video Display Options so if you’re using an HDMI cable with your connection.
• The ability to look at account info and it answers questions like “how to change my gamertag” from Xbox Live.
• Improved Netflix performance. Invite friends to a movie party.

The announcement also mentions that previously announced Twitter, Facebook and Last.fm support is going to be arriving sometime this fall. If you would like to know more information then check out the Official Xbox.com site for details.