Verizon and Motorola have decided to lay the rumors to rest, officially announcing that the Android-powered Droid X2 will be available starting May 26 for a cool $200.

Rumors surrounding the smartphone's release date have been circulating the internet for weeks, but the companies today made it official, adding that online preorders will begin May 19.

The Droid X2 is Verizon's first smartphone to feature a dual-core 1-gigahertz processor, which will allow for faster web browsing and Adobe Flash Support. Additionally, the Droid X2 will ship with Android 2.2, but in a statement Verizon and Motorola confirmed that an Android 2.3 update will eventually become available.

As tech news provider Engadget pointed out, the HDMI and USB port arrangement is similar to that of Motorola's Atrix, suggesting the possibility that the two handsets may be able to share mobile phone accessories.

The Droid X2 will run on Verizon's 3G network.

The popularity of Android has surged in recent months with the release of numerous handsets and tablets based on the mobile OS. According to a recent comScore report, one out of every three smartphones sold in the United States runs Android.