The next version of Snap's Spectacles may be very expensive.

Snapchat's parent company plans to introduce new Spectacles glasses with two cameras by the end of the year and sell them for $350, according to a Cheddar report Tuesday.

The upgraded version is reportedly code-named Newport and will have an aluminum frame. The Spectacles' dual cameras will enable the Snapchat app to overlay AR lenses and produce 3D photo effects from the footage, according to the report.

The new Spectacles' price will be more than double that of the first glasses Snap released in September 2016, which cost $130. Spectacles 2 came out in April this year, and Snap released new frames -- dubbed Nico and Veronica -- in September. The new frames make Spectacles look more like traditional sunglasses, though the functions haven't changed. The Nico and Veronica versions cost $200.

Snap declined to comment.