Street Fighter IV producer Yoshinori Ono had his "Street Fighter IV and Beyond" panel interrupted by Tekken producer Katsuhiro Harada, with the rival fighting game makers joining together to announce a collaboration, Street Fighter X Tekken.

Street Fighter X Tekken was introduced with a teaser trailer featuring Street Fighter's Ryu facing down Tekken's Jin in a pre-rendered sneak peek featuring Street Fighter IV's sketchy, inky visual style. The game, pronounced "Street Fighter cross Tekken" will be coming to the PlayStation 3 and Xbox 360.

Following the announcement, Ono surprised the crowd by holding up a Blu-ray disc with a copy of the game then provided attendees with a playable demo.

Street Fighter X Tekken appears to play like Street Fighter IV, locked onto a 2D plane, with both Tekken and Street Fighter characters performing EX-style super moves. The match started off with Ryu versus Jin Kazama, but Ono and Harada tagged in two more characters, Chun-li and Nina Williams.

Harada followed that playable match with an announcement of his own, confirming that Tekken X Street Fighter is also in development at Namco.

Welcome!

Mike Nelson here and Mr. Frank Cifaldi is next to me as we prepare to give you the exciting annuncements as they happen. Like, in REAL TIME.

Frank is helping cosplayers take pictures together.

There is a kid here dressed as aEl Fuerte and he keeps quoting the Old Spice Man.

And it Begins.

Seth Killian, now takes over the MC duties. "We have exciting stuff, thanks for everyone coming out.

Ono-san has been introduced and the crowd goes nuts.

He's still wearing his robe and slippers. Stayed up a little too late last night and slept in.

"So how many of you are following my twitter feed?"

Not many responses. "How many do you intend to follow me on Twitter following today?" Loud applause.

"Let's start by talking a little bit about Darkstalkers."

"I'll re-edirate that this is a Street fighter panel, and not a Darkstalkers panel. But how many people would like to see a Darkstalkers game?" Again, loud applause. "How many of you have a wallet? Take a dollar out of your wallet and show it up in the air. We'll take a picture of it and show this to the folks at Capcom that people will buy a Darkstalkers game." Everyone takes a dollar out and they took the picture.

They are now talking about how SF 4 has sold over 4 million copies and previous Comic-Con appearances.

"Do you remember how I said my job was on the line about Street Fighter 4? Well, thanks to you guys my job is safe. Thanks to you guys we'll be able to making fighting games a little longer." Again, applause.

They are now taling about how Capcom is going to have official tournaments called Capcom Cup competitions utilizing the Tournament Mode.

Different regional tournaments, and they encourage you to participate as these tournaments start up. Apparently these have rolled out in Japan yesterday.

"So since I've started Twitter I get a lot of questions from yser, like about costumes for the game. As you know, we've introduce a lot of costumes for Street Fighter 4."

"We will announce right now we are making new costumes for Street Fighter 4."

lots of costumes on display, looks like there is one for Rufus that is looks like a giant blueberry from Willy Wonka, Blanka wearing a giant feather cap.

Now they're talking about Super SF IV coming out for Nintendo 3dS.

They're showing screenshots for the game. It looks damn impressive.

"We're going to do our best to have the look and feel of SSF4 on the 360 and PS3 and bring that to the DS. So be on the lookout in the future for more information about SSF4 on DS."

"I'm getting a lot of questions about the blank characters slots for the arcade bersion. Who do you think these are going to be?" The Crow starts yelling out names.

In September we have the Tokyo Game show and we'll talk about that more then."

A video starts playing titled, "The Future of III."

"We have not forgotten about SF 3. In fact, from it. We've just started producing to bring this back to you. Street Fighter 3, Third Strike, Online Edition."

"Because you saved my job, the least I could do is bring Street Fighter 3 Back to you."

"Now that I have announced it, the company can't stop us, so we're going to take our time to bring this out. It's not going to come out in the immediate future, but just let everyone know that Street Fighter 3 is coming back."

""If there are features you want to see, go to Capcom Unity and tell Seth Killian what you want to see in the game."

""I've been thinking about what we;re going to do with Street Fighter 4 from now on. I'd like to ask you guys: is there is anything you'd like to see in the Street Fighter 4 series from now on."

Now a fight has broken out and the producers from tekeen have walked in the door. Madness. They are handing out copies of Tekken to fans at a Street Fighter Panel.

Sorry, we're having some WiFi troubles.

And a video starts to play.

A butterflu going through the air. The ink blots from the SF trailers is here against. We see Dan get smashed into a wall.

Street Fighter vs Takkken

Tekken...pardon the typos.

"A time for a new fighting era has begun."

The Trailer is over. Frank is running around filming off-screen footage, so we'll have something up shortly.

"We've known each other because of the industry but never had a chance to try something like this before."

"Ono approached the producer behind Tekken with the idea since he heard he was an SF fan."

Okay, I'm back. CoverltLive is crapping out.

They're shown footage of the game in action and we'll have footage up shortly. (Frank is on it).

So in case you missed it, it's called Street Fighter Cross Tekken.

The cool thing is that one version is being developed by Capcom, and one is being developed by Namco.

So while Street Fighter Cross Tekken seems to be closer to Street Fighter controls, the Namco version (Not shown) could play like a Tekken game.

That would be called Tekken Cross Street Fighter, presumably.

The gameplay demo had Ono-san facing off with the producer of Tekken for a demonstration of the fight. Names are escaping me. The gameplay showed that it looks like the characters can tag each other during Ultras. The one displayed show Ryu and Chun-Li teaming up to take down a Tekken fighter (sorry, not a big Tekken fan so the names are not coming to me). But yes, Frank is running off to find a good internet connection to upload the gameplay demo.

Sorry, the internet and Covertlt Live doomed me for a little bit, but there you have it.

We should have footage up within the hour (or sooner).

Thanks for tuning in.

So in closing:

We have more costumes on the way for SSF4, official regional tournaments, more characters confirmed for the arcade version of SSF4 (to be revealed at TGS), a new version of Street Fighter 3 coming soon, and of course Street Fighter Cross Tekken, Tekken Cross Street Fighter.

@William Thanks!

Later guys, time to go write up some stuffs.

Well it is a fighter and all but someone answer me this. Why do the character models look like shit? It's xbox360/ps3.

I wish I could get excited, but how many Street Fighter vs. games do we need?

If this were a step in the direction of a high budget 3D MUGEN, I'd be shitting my pants in optimism, but it seems more realistic to assume this is just a gimmick to sell the same Street Fighter game four times.

Why would they make another Street Fighter cross over game with Tekken? It could work, but wouldn't be easier to make a cross over game of Soulcalibur and Tekken?