In a statement sent to us, the search giant fessed up, "We are aware of the volume issue and have developed a fix."
The statement continues, "We will update devices as soon as possible."
That's good news for Nexus owners who have found their brand new smart phone hampered by the bug, which causes volume on the Ice Cream Sandwich-powered mobile to drop spontaneously, causing you to lose sound during phone calls or miss notifications.
We've been testing the Galaxy Nexus, and figuring out what makes the glitch rear its ugly head. It appears that the issue is caused by the 900MHz 2G frequency, which is used by O2 and Vodafone, meaning Nexus owners on those networks (and piggyback networks such as Tesco, giffgaff and Asda) could experience volume dropping.
Evidence suggests that Nexus owners on Orange, T-Mobile or Three won't be affected, as these networks use the 1.8GHz or 2.1GHz 2G frequencies.
Stay tuned for more information, and in the meantime let us know in the comments or on our Facebook page whether your Galaxy Nexus is affected by this bug, and whether the glitch has put you off buying one.
Check the video below to see the nasty volume bug in action.