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Good news: the Xbox 360 will finally have a web browser in the near future, according to a Verge source. Bad news: It's Internet Explorer. The source tells The Verge that the new web browser is based on Internet Explorer 9, and features Kinect functionality, allowing users to search with voice input just like the Bing search tech used in the current dashboard. Users will also be able to browse the web without talking to it, reportedly.
Source: Rumor: Kinect-enabled Internet Explorer browser coming to Xbox 360 | Joystiq
Awesome news and this is long overdue, also having an internet browser on the xbox would increase their sales a tiny bit. I have no idea why it hasn't been done already though considering Microsoft develop IE.