'Monsters' and 'Bugs' Coming to Blu-ray (UPDATED)

Briefly: Today it became official that Monsters, Inc. and A Bug's Life are being released on the Blu-ray disc format. They will both be released on May 19th, and both will include two-discs and a digital copy of the movie on a DVD. (Note: The cover art has not yet been released; the above photo is a mock-up). Here are the extras taken directly from blu-ray.com:

Extras for these two films will include all the features on the previous DVD releases, including the following Blu-ray exclusive extras:

A Bug's Life
• Introduction by John Lasseter
• Roundtable with John Lasseter, Andrew Stanton, Kevin Rehr and Darla Anderson
• Storyboard animations
• BD-Live
  • Movie Chat
  • Movie Mail
  
  Monster's Inc
• Roundtable with Pete Docter, Lee Unkrich, Darla Anderson, and Darla Anderson
• Interactive Game
• BD-Live
  • Movie Chat
  • Movie Mail
  • Disneyland Tokyo attraction

The suggested price of each movie is set at around $39.99, but no technical specifications have been released yet. Although one can expect the best sound and image quality, as is the standard for Pixar.

UPDATE: TheHDRoom has the not-yet-finalized covers for these movies (although these are sure to be close to the final product). They also state that:

Monster's Inc. and A Bug's Life will each be presented in their original aspect ratios (2.35:1 for Bugs, 1.85:1 for Monster's) in 1080p video with 5.1 DTS-HD Master Audio packaged with an embossed foil O-sleeve. Both releases will also share a digital copy, BD-Live access, ported DVD bonus features and an all-new bonus feature: Filmmakers' Roundtable.

Source: The Pixar Blog, Upcoming Pixar