Watch out, Verizon. Comcast may be making a play for Fios customers with the lure of faster download speeds.

The cable carrier is reportedly prepping a 305Mbps downstream service slated to reach markets currently covered by Verizon's Fios high-speed service by year's end.

Citing a "reliable source," Web site Broadband Reports said that Comcast streamed a live event to employees this week detailing future plans for its Xfinity service. Besides discussing the Olympics and more Spanish language programs, the carrier's president and CEO Neil Smit dropped hints about a faster service "soon" to be offered in areas that already offer Fios.

No details were available on pricing or exact launch date. But if the report is true, offering a 305Mbps downstream service is clearly a move to outduel Verizon, which recently announced a 300Mbps plan for $205 per month. Or as Broadband Reports puts it, "Comcast wants to keep pace on the PR front, [with] Smit making sure employees knew they'll offer 305 Mbps just to make sure they one-up Verizon."

A Comcast spokesman told CNET that the company has no information to share at this time.

Comcast's upstream speed for the new tier is as yet unknown. Verizon's $205 package offers an upload speed of 65Mbps.

Though less sexy and marketable than the downstream speed, the upstream speed obviously plays a key role for users uploading videos, photos, and other hefty content over the Net.

Comcast conducted some upstream testing last year that reached speeds of 75 to 100Mbps, according to Broadband Reports. The carrier's current Extreme tier offers 50Mbps on the downstream and 10Mbps on the upstream.

Updated 9:30 a.m. PT with response from Comcast.