Microsoft has released a licensed content transfer tool for the Xbox 360 that will allow consumers to transfer purchased downloaded content from Xbox Live from one console to another.

The new tool is available from the Xbox 360 website, and requires the use of a PC while the new console is turned on and connected to Xbox Live.

Console owners will have to log in to Xbox's DRM website with their Live username and password - from there they'll be able to transfer the content to the target console.

But beware console-hoppers - the license transfer can only be done once every 12 months, and movie licenses can't be transferred at all.