Microsoft's previously code-named 'Morro' free anti-virus software will become 'Microsoft Security Essentials' with the first beta version schedulled for release next Tuesday. Microsoft Security Essentials will replace Windows Live OneCare, which included both security and utility services for $49.95 per year.

The software will be available for free and will provide consumers with protection from threats including viruses, spyware, rootkits and trojans, according to Microsoft.

It will be compatible with Windows XP, Windows Vista, and the forthcoming Windows 7 operating system.