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Elon Musk confirms fleet of SpaceX micro-satellites for 'very low cost' internet

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Elon Musk has confirmed that SpaceX is indeed working on satellitesAs spotted by Gizmodo, Musk tweeted that the company is in the early stages of developing advanced micro-satellites that can operate in large formations. A full announcement is expected to follow in two to three months.

When asked if the tweet pertains to the introduction of free and unfettered internet access, Musk replied:

News about the SpaceX CEO's possible plans to launch 700 satellites emerged last week. According to The Wall Street Journal, the machines would weigh less than 250 pounds and may cost roughly $1 billion or more to build. There is still no official word as to whether SpaceX will be entering an official agreement with WorldVu Satellites Ltd, with whom it was reportedly considering a partnership.