1up have revealed that Soulcalibur: Legends is headed to both Xbox 360 and PlayStation 3 in 2008.

Ivy, Mitsurugi and Nightmare all confirmed return along with new and unannounced characters, also the game features "realistic environments, interactive stages, enhanced AI, and a new battle system," according to Namco Bandai.

Here is an exclusive first look trailer courtesy of GameVideos. 

"Soulcalibur has been a cornerstone franchise for Namco Bandai Games and this latest edition will build upon its legacy of groundbreaking fighting experiences," said Makoto Iwai, exec. VP and COO at Namco Bandai Games America. "With Soulcalibur IV, long-time fans and newcomers to the franchise will be amazed by its visual beauty and intense, pulse pounding weapon combat." 

As soon as we have more news on this game you will be first to know.