Today Verizon officially announced its 4G LTE pricing and full list of coverage areas. Some 38 markets will go live on December 5, including Chicago, New York, San Francisco, and LA, and pricing starts at $50/month for 5GB of data, with an $80/month plan for 10GB. Overages run $10 per GB, and there's also supplemental coverage in around 60 airports

Update: Some highlights from today's press conference:

• The company expects 4G LTE average data rates in real-world, loaded network environments to be 5 to 12 megabits per second (Mbps) on the downlink and 2 to 5 Mbps on the uplink.
• The modems are capable of 4G-to-3G handoff, but not 3G-to-4G -- they'll stay on 3G until you're done transmitting data.
• The LTE and 3G plans might integrate, according to CTO Tony Melone, but probably not until 2012 or 2013.
• Modems will only be available in stores on December 5th.

We'll keep you posted as we hear more.  Look out Spint and T-Mobile, the image in your rear view mirror really is larger than it appears!