Great news for those of you that has about $200,000 lying around just burnng a hole in your pocket. Virgin just unveil their first ship named SpaceShipTwo, is nearing the final phases of construction by Scaled Composites.

Virgin is currently claiming that they have already book 200 seats for their sub-orbital craft through 2009. The asking price for is $200,000 per person. Branson has promised that after the first 100 passangers, the deposit will dip to $100,000 for the next passengers. They are hopes to bring the cost down as low as $20,000 per person for a sub-orbital flight.

The ship will reach a maximum altitude of 68 miles, just exceeding the formal boundary of space. Total time for each flight is projected to be in the 2.5 hour range, which includes six minutes of weightlessness at the peak of the suborbital phase. The spacecraft will fold its wings up for reentry into atmosphere, then fold them back again immediately before landing.

Launches will occur from underneath a mother ship known as WhiteKnightTwo, also unveiled in New York today. All flights will originate from Upham, New Mexico.