As part of Microsoft's Dream-Build-Play press release this morning, they announced the first XNA developed title that will hit the XBLA service. While not much is known about Schizoid, other than it is being developed by Torpex Games, Microsoft had this to say about the title:

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“Schizoid” is a co-op action game in which teamwork matters like never before, as gamers and their friend or AI ally protect each other from barrages of glowing enemies. The title is scheduled to launch on Xbox LIVE Arcade before the end of 2007.

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I for one am extremely happy to see that Microsoft seems to be serious about their desire to turn XNA into "the YouTube" of video games.