After months of speculation, the Steam Machine is finally here, starting at $1049 for the 512GB version. If that price is still within your budget, you can reserve it now on Steam.

That $1049 is just the starting price, getting you just the 512GB version of the mini gaming PC without the Steam Controller. If you do want to add the Steam Controller, there is a bundle for $1128, which means you're getting Valve's controller for $79, rather than the $99 it'll cost you by itself.

If 512GB of storage isn't enough for you, Valve is also selling a 2TB model, which will set you back $1349 for just the Steam Machine, or $1428 bundled with the Steam Controller. That's a steep price, to be sure, but Valve is packing two additional faceplates with every 2TB console, so you at least get some added customization options.

Way back when Valve first revealed the Steam Deck, my gut was telling me that it'd cost somewhere around $700-$800. I was probably right at the time, but the costs for PC components, particularly RAM have skyrocketed over the last six months or so. That $1049 is going to be a hard pill to swallow for anyone hoping to get the Steam Machine, especially if you were weighing it against the PS5 or Xbox Series X, both of which are more affordable – at least for now.

But while the Steam Machine is quite a bit more expensive than any of the mainstream gaming consoles, it is still a gaming PC. And, in that world, the Steam Machine's $1049 price tag isn't quite as painful, especially when you consider how tiny it is. After all, mini gaming PCs with this kind of horsepower can cost hundreds more than the Steam Machine currently does.

How to Buy The Steam Machine

If the Steam Machine's high price doesn't scare you away, you can reserve it now on Steam. Valve seems to have learned its lessons from both the Steam Controller and the Steam Deck's launch, so the Steam Machine will only be available via a randomized reservation queue.

Valve hopes that this system will not only combat bots and scalpers, but will stop people from feeling like they have to sit at the store page and mash the refresh button to get to the front of the line.

Here's how it works: starting today and until June 25, you can sign up for whichever version of the Steam Machine you want to buy to get into the first wave of invites. Then, Valve will randomize the entrants in order to determine the reservation order. Once the order is set, Valve will then send you an email that'll either let you buy the Steam Machine, or will let you know that you've been added to a waitlist.

Anyone that doesn't make it into the initial waitlist by June 25 will be added to the back of the waitlist. I did get a chance to sit down with Valve ahead of launch, and I asked how easy it'd be for folks to get their hands on a Steam Machine. Valve told me that even more than pricing, the RAM shortage affected availability, so who knows how many Steam Machines will actually be available at launch. But, at least it sounds like Valve will be actively trying to combat bots and scalpers.

Jackie Thomas is the Hardware and Buying Guides Editor at IGN and the PC components queen. You can follow her @Jackiecobra