Google is finally preparing to launch its long-touted cloud storage service next month. Believed to be called GDrive, say it will be unveiled in the first week of April and will go head-to-head with Dropbox (among others).

GigaOM reports that its tipsters also say the new service will come with 1GB of cloud storage space free on launch, with more available for paid subscription. Rival Dropbox starts with 2GB for free, so it will be interesting to see if Google will quickly up that incentive to get more sign-ups.

The same sources claim that the Google Drive service will run through a local client and that the web interface will look much like Google Docs. It's said the software giant has also included an API for third-party apps, allowing up and, presumably, downloads from applications other than Google's own.

Google has responded to GigaOM's claims with a standard: "We don’t comment on rumors or speculation."

Would you use GDrive? Or is Dropbox or another service enough for you? Let us know in the comments below...