Sony’s PlayStation is jumping into the cord-cutting game with their new Vue service, featuring about 50 live channels.

Launching today in three major markets (New York, Chicago, and Philadelphia), PlayStation Vue’s “Access” package offers the biggest selection of live channels for cord-cutters including CBS, Fox, NBC, Discovery Channel, FX, Fox News, CNN, MSNBC, TNT, Nick, and AMC.

The base package costs $49.99 per month and includes great features like a Cloud DVR (“easily tag shows to watch later,” Sony says. “Every episode aired thereafter will be available for up to 28 days in the cloud with no storage limit or scheduling conflicts to manage”).

For an additional $10 – $20 more per month you can receive even more channels including local sports programming and movie networks. Notably, channels like ESPN, Disney, and HBO are currently unavailable.

PlayStation Vue can be used on PlayStation 3 and PlayStation 4, with support for iPad and other devices coming “in the near future.” Here’s what the slick interface will look like when you’re browsing content:

A list of the channels available on the $49.99/month package, in case you’re curious: AMC, Animal Planet, BET, Bravo, Cartoon Network, CBS, CMT, CNBC, CNN, Comedy Central, Destination America, Discovery Channel, Discovery Family, DIY, E!, Esquire, Food Network, Fox Business, Fox News Networks, FOX Sports 1, FOX Sports 2, FX, FXX, HgTV, HLN, Investigation Discovery, MSNBC, MTV, MTV2, Nat Geo, NBC Sports Network, Nick Jr., Nickeloden, Nicktoons, OWN, Oxygen, Science, Spike, Syfy, TBS, TLC, TNT, TruTV, Travel Channel, TV Land, USA Network, VH1.

Sony’s announcement comes in the same week that the Wall Street Journal reported Apple is preparing to launch a live television service for around $25-$30 per month with half the number of channels Vue is offering. The service is expected to be announced in June and launch in the fall.

As we said in our Apple report, we still think the prices for what you’re getting in return are a tad too high. Consumers will need a price that is significantly less than cable in order to encourage them to switch.

Will you consider Vue when it’s released in your area?

Sony says additional markets “will launch later this year.”