YNOT – According to some early reports from Internet tech circles, Microsoft is preparing to announce a new deal with Twitter and Facebook that will bring real-time updates of tweets and status into Bing.com search results. If announced as expected at today’s Web 2.0 conference in San Francisco, the feature would give Bing.com one benefit that can’t be found on Google.Facebook isn’t talking yet, and referred questions to COO Sheryl Sandberg who will be appearing at Web 2.0 later today.

Microsoft’s executive Qi Lu will also appear at Web 2.0 Expo on Wednesday, and could make an announcement then about the rumored deal.

Microsoft is a partner in Facebook, having paid $240 million for a stake in the company back in October of 2007. According to the New York Times, the new deal with Twitter also involved Microsoft making a payment, however it’s also being reported the deal is non-exclusive.

No word yet on when Microsoft would be able to integrate Facebook and Twitter with Bing and start serving live results.