The bad news? It won't just come direct to your phone, you'll have to install the correct software on your computer beforehand. Software update via a computer? How very quaint.
"For months, we and dozens of our partner companies have been laying the groundwork for the Windows Phone 7.5 update -- and making solid progress," reads the entry by Eric Hautala, GM for Windows Phone, on the Windows Team Blog.
He went on to warn against unofficial or leaked copies, and reiterated the recently updated versions of the software you'll need -- Windows Phone 7 Connector for Mac, or Zune Software for PCs.
Windows Phone Mango is the first major update to Microsoft's mobile OS, adding more than 500 new features including multi-tasking, messages focused on people rather than apps, and a combined inbox showing all your email accounts in one place.
Here's a video about it.
Last week we brought you news that Windows Phone apps could well run in Windows 8, Microsoft's desktop OS it showed off last week. Both have the same tile-based user interface, so convergence could well be in full effect. The desktop version could even let you make phone calls, so you can reply to a text on your tablet without having to pull out your handset.
Windows Phone is still "very small" according to Microsoft's Steve Ballmer. This update could well help change this. (Of course, bringing apps to the 400 million Windows PCs sold every year can't hurt either.)
Will you be updating? Is Windows Phone heading in the right direction? Let us know in the comments below or on our Facebook page.