PSA: Upgrade 3 years of Xbox Live to Game Pass Ultimate for just $1

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If you've been paying attention to Xbox rumors and announcements of late, you may know that Xbox Live Gold and Xbox Game Pass have now been officially merged into a single $15 a month Xbox Game Pass Ultimate subscription plan (which now also includes PC games, for good measure).
What you might not realize is you can upgrade up to three years of a current Xbox Live gold subscription to the new, more expensive plan for $1 as part of a launch promotion from Microsoft.
As Microsoft describes on the Xbox Game Pass Ultimate announcement page (emphasis added):
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