An MTV article quotes an anonymous source as saying that a Xbox 360 version of the WiiMote has been under development since last summer and will be launched by the end of 2008.

The source went as far as providing MTV with a sketch of the last prototype of the new motion-sensing controller for the Xbox 360 that it claims to have seen. The controller’s design bears a striking resemblance to the WiiMote…

GestureTek has been providing motion-recognition solutions for videogames and other industries for the past two decades including several motion-sensing technologies. It might just have some more mind-twirling innovations up its sleeve that it plans to unveil during this year’s Toy Fair (February 17-20, 2008) and Game Developers Conference (February 18-22, 2008).

The company is betting big on its new “Wii-like” game stick or wand, which relies on…