Saying "A time for a new fighting era has begun," Capcom and Namco announced "Street Fighter x Tekken" at San Diego Comic-Con.

Capcom's Yoshinori Ono and Namco's Katsuhiro Harada were both in the same room when the announcement was made. There was a brief interruption by Tekken representatives during the Capcom news conference, but then the official word came, according to 1Up.

Ono-San said he heard Harada-San was a Street Fighter fan and came up with the idea about a year ago. It will reportedly be a 2-on-2 game.

UPDATE: According to Capcom by way of Twitter, it will be "two games, two developers," which was the rumor for a couple weeks. One version of the game will be developed by Capcom (Street Fighter x Tekken), the other by Namco (Tekken x Street Fighter).

SECOND UPDATE: No release date was set for either version.

THIRD UPDATE: Here's video of some gameplay.

The big announcement was one of a few made during the Saturday conference. Here are some others:

• Ono-San said there's plans on expanding competitions in Super Street Fighter IV by having Capcom-official tournaments. Called the "Capcom Cup," different regions will have their own online tournaments, and the game's Tournament Mode DLC, released last month, will be used to run the events. Tournament mode DLC is single elimination, each match one game. Ono-San said Japan is the first region to have these type of tournaments; the country had them beginning Friday. There was no word when other countries, including the United States, will be allowed to participate.
• The two characters to be added to Super Street Fighter IV arcade version will be announced September at Tokyo Game Show. Keep in mind that Super Battle Opera is scheduled to take place at Tokyo Game Show, a change from past years. Ono-San teased it, saying people have been asking him what the characters are, but declined to say.
• Ono-San showed more screenshots of Super Street Fighter IV for the Nintendo 3DS, and he said more will be made available later.
• Street Fighter III: Third Strike, Online Edition is in the works. Those that want to suggest features can mention them to Seth Killian (blog here, Twitter here).

Pictures by Jimmy Nguyen.

It is always the biggest day of the year in the fighting game world. It's Championship Sunday in Evolution. Titles will be decided in seven events. There's also at least 1 more golden MadCatz Tournament Edition fight stick to be awarded -- the winner of the Ladies Super Street Fighter IV tournament will receive that prize. Other medals and trophies are also on the line, as well as cash prizes.

The Box Arena is hosting the "Fight" Tournament in collaboration with Level|Up. The tournament is scheduled to start sometime after 5 p.m. A load of players have atteneded in preparation for Evolution next week.

Check it out after the jump ...

GRANADA HILLS - The Team FFA United Ranbats 1.5 tournament is underway. Striderzer0 is bringin you the broadcast of the tournament, live from Family Fun Arcade.

The stream following the jump ...

Ground Kontrol Classic Arcade in Portland, the arcade that won the Save the Arcades national contest last month, is hosting a Super Street Fighter IV competition today. It's the Slugfest IV Tournament.

Michael AKA Slash5150 is doing the broadcast, so be sure to check it out.

The stream after the jump ...

One of the biggest Brawl tournaments this weekend is the San Diego Self Destruct tournament. Tearbear is running the broadcast. Check it after the jump.

Some Ultimate Mortal Kombat 3 action is going on right now. Casual play brought to you by Dark Rob. If you're looking for a brief break from the main tournament games, check it out.

The first of four groups in the ESWC Super Street Fighter IV tournament took place earlier this morning, and nobody survived undefeated.

The standings:

According to the ESWC, the top two players get out of divisional play and into the single-elimination bracket round. Laugh defeated Ryan Hart, 2-0 in their matchup which means he should be the division winner, but there's no notification yet. Laugh could have went 3-0, but lost to Yamazaki in his finale, 2-1.

Results are being posted as it happens on the ESWC site. Marn and Justin Wong are in groups 3 and 4, respectively.

Devastation 2010 is this weekend in Arizona. Among the events are Tekken 6, Super Street Fighter IV and Brawl. The Live on Three crew will be providing the broadcast for you to enjoy, while players in various communities will help out with commentary. Stay tuned to the live broadcast to get action from all of the games.

HUNTINGTON BEACH - We're live from the Farewell FedEx Fight Nights event at the Hotel Huntington Beach. There's scheduled to be a 16-person tournament tonight.