(Updated) MySpace and Facebook will make a major joint announcement at Noon PST today according to a press invitation sent last night.  Mike Jones, CEO of MySpace, and Dan Rose, VP of partnerships and platform marketing for Facebook will be handling the presentation, but no other details were offered. Several sources are pointing towards increased integration between the two services.

According to London's Telegraph, MySpace will start to accept Facebook logins, a move that will be seen many as MySpace admitting that Facebook has won the social networking war. In return, perhaps Facebook will integrate more of MySpace's music content.  Stay tuned for details.  (We'll likely tweet it first.)