According to sources Digitimes has talked to, Microsoft is likely to present their own contribution to head-worn gaming devices on next year's E3. The sources also say that the device is being developed by Microsoft's hardware team.
It's not clear wether this will be virtual reality like Oculus VR's Rift or Sony's Project Morpeheus, but with many predicting VR to be the next step in gaming it's likely Microsoft would want to be in at ground zero.
Guess we'll have to wait for next E3 to know for sure.