Google confirmed this morning, via official press release, that they will, in fact, be taking part in the upcoming 700 MHz wireless spectrum auction.

"We believe it's important to put our money where our principles are," said Google's CEO, Eric Schmidt. "Consumers deserve more competition and innovation than they have in today's wireless world. No matter which bidder ultimately prevails, the real winners of this auction are American consumers who likely will see more choices than ever before in how they access the Internet."

The company will file their formal application to participate in the auction on Monday, December 3rd. Google's application will list no bidding partners. The reserve price for the spectrum is set at $4.6 billion.

The auction begins on January 24, 2008.