Microsoft just announced what it's calling the Xbox One Elite Wireless Controller, described by Xbox boss Phil Spencer as "an elite controller for the elite gamer." It's basically the regular Xbox One gamepad turned up to 11, adding new features like four interchangeable paddles around back, Hair Trigger Locks for precise control in shooters, remappable buttons, and completely swappable components. The stainless steel paddles are fully removable, but when they're attached, they allow you to keep your fingers on the thumbsticks at all times.

Users also have full customization of thumbstick sensitivity and minimum/max levels for the controller's top triggers. These settings, along with button mapping, are handled through a standalone app that will be released for Xbox One and Windows 10. Microsoft says your controller preferences are stored in the cloud, and the gamepad itself can carry around two user profiles.

But all of those advanced features come at a steep price. The Xbox One Elite Wireless Controller will be priced at $149.99 when it hits retail stores in October.

Introducing the Xbox Elite Wireless Controller coming this Fall pic.twitter.com/6aD3GHBHYQ — Larry Hryb #XboxE3 (@majornelson) June 15, 2015

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Update June 15th 4:08PM ET: We've updated the article with pricing and more specific availability information for the Xbox One Elite Wireless Controller.