YouTube's cable-killing live TV streaming service is coming this week (GOOG, GOOGL)

YouTube is getting ready to take on traditional cable companies.

The online video service plans to announce Unplugged, a live TV service streamed over the internet, according to The New York Post. YouTube is holding a press event Tuesday afternoon to unveil the details.

Unplugged, which has been rumored for months, will be similar to Dish's Sling TV and AT&T's DirecTV Now, allowing you to subscribe to a so-called "skinny bundle" of popular pay TV channels. The New York Post's report says Unplugged will cost $30 to $40 per month.

A YouTube spokesperson was not immediately available for comment.

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