Last week, reports began bouncing around that Verizon was going to be running a promotion later this month that knocked $100 off the iPhone 5. And it appears that, at least for some Big Red customers, that deal has gone live.

Several news outlets are reporting today that some VZW subscribers are being offered Apple’s latest handset for $100, along with a two-year contract of course, bringing about one of the lowest prices we’ve ever seen for the device…

Gotta Be Mobile (via MacRumors), who spoke with Verizon concerning the promotion, says that the deal only applies to particular “basic phone” customers, who are interested in upgrading to a smartphone with a data plan.

“The carrier did not elaborate on what qualifies customers for the deal and it also stressed that not every basic phone customer will be getting the offer, only those that it has identified as those who are interested in potentially upgrading to the iPhone 5. The promotion will last until the end of next month which means that it will last through Apple’s WWDC developer conference which is set to kick off in the middle of the month.”

The carrier says that the discount will be available until June 30th.

If you’re a Verizon customer in need of a new iPhone, and aren’t interested in ‘the next big thing,’ it’s definitely worth checking this out to see if you qualify for the promotion. Otherwise, you’re better off holding out for a few months.

Apple is widely expected to unveil a new handset, believed to be the iPhone 5S, sometime between June and September. Among its rumored improvements is an upgraded camera, as well as other internals, and a built-in fingerprint sensor.