Microsoft has not yet closed the loophole that allows Xbox Live users to sign up or extend their current Xbox Live Gold subscription for as little as £1 per month, which is roughly a third of what you'd be expected to pay from the likes of Amazon or Dixons and a sixth of the suggested retail price.
The deal is currently still available here and is valid until the 27th of June; the promotion page clearly stipulates "After the promotional 1 month, your membership will automatically renew to a one month membership at the then-current price unless you change your renewal or cancel before your membership ends."
But many Xbox 360 users are reporting that Microsoft has not solved that glitch yet; some have even managed to extend their Xbox Live Gold subscription to June 2014, 36 months in a row, the maximum pre-paid period Microsoft currently allows.
Read more: http://www.itproportal.com/2011/06/22/microsoft-offering-xbox-live-1-month/#ixzz1QHxw5utq