The Sony Ericsson PSP Phone rumor has been going around for several years now, but it’s only now that we’ve finally gotten some solid evidence that it’s actually true.

PSP Phone prototype

Engadget’s got the exclusive on this one, and based on what they’ve currently got in their hands, the PSP Phone will sport a 1GHz processor, 512MB RAM, 1GB ROM, and will run on the new Android 3.0 platform complete with a custom Sony Marketplace for downloading of games and other apps. It’ll also come with a microSD card slot instead of the usual Memory Stick slot, and a touchscreen display that’s somewhere in the 3.7- to 4.1-inch size range. This one pictured here is apparently a prototype of the said device so don’t be too dismayed if it’s somewhat lacking in the aesthetics department.

There’s no details yet as to when it might actually hit stores though an early 2011 release is starting to look more plausible at this point in time. That’s about it for now, but rest assured, once we get new info on the PSP Phone, we’ll report it to you guys ASAP. For the meantime, you can check out more pics of this intriguing device here.