Rockstar Games today announce the second episode of downloadable content for Grand Theft Auto IV, revealing that Grand Theft Auto: The Ballad of Gay Tony will be available for download via Xbox LIVE later this year.

They've also announced that you'll be able to pick up Grand Theft Auto: Episodes From Liberty City on disc for the Xbox 360, which will contain both episode 1 The Lost and Damned, as well as episode 2 The Ballad of Gay Tony in one handy location, to save you a bit of bandwidth.

We're told that Liberty City should brace itself for a hefty dose of "guns, glitz and grime", when The Ballad of Gay Tony hits in the Australian spring. You take on the role of Luis Lopez, part-time hoodlum / full-time assistant to legendary nightclub king Tony Price (better known as "Gay Tony", possibly not due to his overwhelmingly happy attitude). Day to day, you struggle with competing loyalties of family vs friends, and try to sort through the uncertainty of who is real, and who is fake - remember, everybody in this part of Liberty City has a price.

Sam Houser, Founder of Rockstar Games explains:

“Liberty City is the most vibrant game world we've created yet. The episodic structure has allowed us to interweave stories, gameplay and atmosphere in a whole new way. The team at Rockstar North have yet again surpassed themselves, and made something that is both epic and very innovative. This episode's focus on high-end night life contrasts with the biker gangs portrayed in the "Lost and Damned", while giving us a lot of new gameplay possibilities."

Like last time, you'll be able to download this new episodic update via Xbox Live - but if you're not keen on that idea, don't have broadband or simply prefer to own physical copies of your media, Grand Theft Auto: Episodes From Liberty City has come to your rescue. Delivering both The Lost and Damned and new The Ballad of Gay Tony together on disc for the first time - it's worth noticing that you don't actually need a copy of the original Grand Theft Auto IV to play.

You will still need a copy of the first game if you want to download The Ballad of Gay Tony from Xbox LIVE, however - it'll arrive before the end of the year for a predicted 1600 MS Points.