Iomega has announced the new Media Xporter drive, a game-oriented 2.5-inch portable hard drive that provides cross-platform media storage for Xbox 360 and PlayStation 3 consoles.

Iomega says that their new offering makes it easier than ever to use game consoles and high definition televisions and other large screen TVs to share photos, videos, and music collections with family and friends.

The wallet-sized USB-powered drive uses the USB 2.0 ports on the Xbox 360 or the PlayStation 3 to offer a PC-free, plug and play solution that gives users 160GB of storage.

Designed for use the Xbox 360 and PS3, the Media Xporter is also compatible with Apple computers and Microsoft Windows and is bundled with software to convert media to console-friendly formats, where necessary.

The Iomega Media Xporter Drive USB 2.0, 160GB is now available in the US for $119.95 and in Europe for 99 euros.