We've previously reported on the Xbox programme Positron, which will allow you to convert your old discs into digital licenses for both PC and Xbox. This will enable you to continue playing them even if disc drives were to disappear one day (though Project Helix is rumoured to include disc drives).
Now, Windows Central reports it doesn't look like we'll have to wait very long to find out more, as it seems the announcement is coming as early as this month. All previous Xbox consoles except the very first one will be supported (which will hopefully be added later, given that they've started experimenting with support for Xbox games on PC), but not necessarily all games, with licensing and other issues potentially causing problems for certain titles.
We're keeping our fingers crossed that this is true, and if so, it's time to dig through the depths of our closets to find old games to digitise and preserve for the future.