Elon Musk has confirmed that Space X is developing a micro-satellite system that will provide very cheap Internet access, but was tight-lipped about details.

A recent Wall Street Journal report saying Elon Musk and his company SpaceX is working on providing low-cost Internet via micro-satellites has gotten quite a bit of attention.

It didn’t take long for the news to spread via social media, and Musk has finally commented on the story.

Via Twitter, he confirmed that SpaceX is indeed developing such a system and very cheap access is part of the plan, but was tight-lipped about details.

In his comments he mentioned that the Wall Street Journal piece contained incorrect key information, but he’ll be clearing up any confusion soon.

An official announcement about the development is expected in the coming months.

Among the specifics that may or may not be true is that Musk is collaborating with Greg Wyler, the WorldVu Satellites founder and former Google executive.

Also cloudy at this time is the number of Internet providing orbiters that will be launched and what they will cost.

A quantity of around 700 was mentioned in the Wall Street Journal’s piece, as was a $1 billion price tag according to unnamed industry officials.