As of today the ESPN for Xbox is receiving a big update. Microsoft have announced a press release saying:

“Today, ESPN on Xbox reloaded with a significant update. The app now includes ALL of ESPN's live network programming through Watch ESPN including ESPN, ESPN2, ESPN3, ESPNU, Buzzer Beater and Goal Line. Xbox LIVE Gold subscribers can watch all their favorite sports and shows live, including SportsCenter, SportsNation and the Mike and Mike Show, as well as ESPN's coverage of the NFL, including Monday Night Football, MLB and the NBA.”

With the apps My Sport section, Xbox users can choose what teams or sports they're most interested in and receive a news feed tailored to their liking.

The new update adds some features much like the EPG and interactive button on your home TV so users will be able to find additional information and media about their sports or teams, as well as reminders so that users will never miss the big games that matter to them.

The biggest new features are Gesture and Voice control for those with Kinect connected and especially the Split Screen Mode. Allowing users to either watch two live streams simultaneously or one live stream while they're reading breaking news stories in the other half. Both screens are independently controllable including rewinding and pausing

Microsoft also stated that:
“...beginning in December, Xbox SmartGlass experiences for ESPN, NBA and SportsPicks will be available on the platform.”