Microsoft will reportedly revise its Office v.X product line next month with price cuts and two new editions of the business suite, according to Microsoft Watch. Microsoft plans to offer a new “Student and Teacher” version for US$149 as well as a “Professional” edition for $499 that bundles Virtual PC, which the company acquired from Connectix in February. The current release of Office v.X will be branded as the “Standard” edition and will drop in price from $499 to $399. The standalone releases of Word, Excel and PowerPoint will drop in price from $399 to $229, while Entourage will remain at $99. In addition, Microsoft is expected to begin marketing Virtual PC 6.1 under the Microsoft brand in August.