Apple announced Tuesday that the iPod shuffle will now cost $49 with a new 2GB model going for $69.

This is a big development for “the world’s most wearable music player” which weighs just half an ounce.

“At just $49, the iPod shuffle is the most affordable iPod ever,” said Greg Joswiak, Apple’s vice president of Worldwide iPod Product Marketing. “The new 2GB model lets music lovers bring even more songs everywhere they go in the impossibly small iPod shuffle.”

The new 1GB iPod shuffle is now available through the Apple Store, Apple’s retail stores and Apple Authorized Resellers. The 2GB iPod shuffle will be available later this month.