The NY Times is reporting that Verizon Wireless is set to release the first ever portable, personal wireless hot spot.  The device, which is made by Novatel, is called the “MiFi” and it should be available this month.  The MiFi will require a special data plan and Verizon will be offering a few based on the amount of data you’re allowed to use per month.

Unlike the current line up of wireless modems available now, which must be plugged into the computer’s card slot or available USB port, the MiFi will allow up to five users to share the same internet connection without any cables at all.

Imagine being able to connect to the internet anywhere (anywhere there’s a Verizon 3G signal that is), anytime, with any device that supports WiFi and better still being able to share that connection with your friends and family.  The size and portability of this device make it one that I’ll be excited to check out come release day.

The device is set to retail for $100 with a two year contract and data plans start at $40 per month.