Motorola's long-rumored "X Phone" could actually be the codename for a larger project that would allow consumers to order custom handsets and receive them within one week's time. In addition to basic custom features like color, ringtones, apps and storage capacity, X Phones may even feature the ability to specify hardware like memory, processor and even carrier support according to one source.

Other tidbits include word that the first Motorola X Phone could arrive as early as June. This seems to make sense considering Google will host their annual developer conference just a month in advance where most believe the search giant will unveil some new Android hardware.

Sources also claim that Motorola will guarantee at least one full Android version update following the purchase of a custom phone. This is something we have heard Google talk about in the past as it could help solve the problem of fragmentation among Android handsets but thus far, nobody has implemented a program like it.

These X Phones could be ordered directly from an "online store" which we have to assume is Google Play. Furthermore, customers would be able to place an order through a carrier retail store although the latter seems a bit suspect as carriers traditionally like to get their hands on the software before a phone goes out the door. Apple is one of the few well-known exceptions to this rule, however.

I'll be the first to admit that these rumors sound a bit "out there" but considering that Motorola advisor Guy Kawasaki recently hinted at phone customization on Google+, there could very well be a bit of truth to it all.