At the annual Microsoft Build Developer conference, Microsoft's Partner Development Lead Frank Savage confirmed that there are actual plans for an Xbox 360 emulation on the Xbox One.
It's probably not a good idea to hold your breath however, because while there are plans for an emulation, Savage said, "...we're not done thinking them through yet, unfortunately."
When it was first announced that the Xbox One would not be backwards compatible, Microsoft's marketing director for Xbox UK, Harvey Eagle, said that it was because the next-gen console had a different architecture build than the Xbox 360.
At the Build Developer conference, Savage further explained: "It turns out to be hard to emulate the PowerPC stuff on the X86 stuff."
"So there's nothing to announce, but I would love to see it myself," Savage added about the emulation.
While we wait for Microsoft to figure out their own hardware, we'll just keep a hold of our Xbox 360.
Want to know what we think of Microsoft's next-gen console? Check out our Xbox One review