Just in time for its sister company’s release of Casino Royale, Sony Ericsson has introduced a new gadget even James Bond would be proud of - the MBW-100 Bluetooth Watch.

This beautifully designed timepiece ushers in a whole new chapter in Bluetooth accessories by providing the most discreet way to date to manage your cell phone. Imagine you are in a meeting with M and the Minister of Defence [sic] and Felix Leiter calls on your mobile to chat. With your phone pocketed away and in silent mode, reaching to answer it would be noticeably disruptive to your meeting. Instead, your timepiece discreetly vibrates to alert you to an incoming call. With only a slight turn of you wrist, your watch displays your caller’s number (or name if the number is stored in your phonebook). A discreet press of the crown and Felix is sent to voicemail for a later callback.

Other features of the MBW-100 include incoming text message notification and play/pause control of music functions. It will also alert you if you have traveled out of range of your cell phone, which is handy if you are the type to forget your phone somewhere.

The watch itself is a beauty. Designed in conjunction with watch giant Fossil, it’s got a sleek steel case with a polished/brushed bracelet and features a scratch-resistant mineral glass crystal. The crystal has an anti-glare coating to make the display easy to read. And, oh yeah… it even tells time!!! Actually, it will display the date and time from your phone, so you can easily set and synchronize the time on your wrist. The watch is a bit heavy (which is a positive in my book since it makes it feel more substantial), so it may take a little getting used to for some.

Comes with charger/cradle and retails for $399 on the Sony Ericsson site.