At the moment, the bike costs $2,500, and if you buy it, you'll have access to Variis, a streaming platform that will deliver on-demand fitness classes from SoulCycle, Pure Yoga, Equinox and others. Variis is the result of a partnership between Equinox Media and SoulCycle. If you have the bicycle, the app will cost you $40 per month. It's still unclear how much a standalone subscription will cost.

With an official at-home offering, SoulCycle will likely become a major competitor for Peloton. While SoulCycle has driven much of spinning's popularity over the last several years, it hasn't had a dedicated at-home spin bike. Peloton has dominated that space. It even sued Flywheel Sports and Echelon Fitness LLC for allegedly mimicking its offerings. We'll see how Peloton and SoulCycle go head-to-head now that they're in the same space.