Sony will unveil its Playstation-based streaming TV service on an invite-only basis later this month, the Wall Street Journal reports.

Called “Playstation Vue,” the service will be available on select Playstation 3 and Playstation 4 devices. At the start, the channel lineup will include CBS, Viacom, Scripps Networks Interactive, and Comcast’s NBCUniversal, 21st Century Fox, and Discovery.

While this early, invite-only beta test will be offered for free, initial reports indicate that Sony will not offer “Vue” for any cheaper than cable. In fact, it may in fact turn out to be even more expensive.

“I’m not looking at it in terms of a substantial discount,” Sony Computer Entertainment President Andrew House told the Journal. “I’m looking to offer a better sense of value for money.”

Re/code estimates that the monthly cost for Playstation Vue could be in $60 to $70 range. And subscribers will need the Internet to access the service, so they will have to add in a $40 or so broadband subscription on top of that. All told, subscribers could end up forking over more than $100 a month for less channels than cable.

Sony is hoping that a more innovative user interface will drive sales, but only time will tell. Meanwhile, Dish Network has revealed that its “Net TV” service, which is expected later this year, will cost about $30 monthly. The service is rumored to include ESPN, which is tellingly absent from Sony’s initial lineup.

These development come on top of earlier announcements from CBS and HBO that they would be entering the streaming TV market as well. While it’s still too early to predict the demise of cable TV, one thing is certain: cord cutters have a plethora of options coming their way in the near future.