Will Apple's iOS 7.1 launch by next week?

Those who have been waiting for the newest iteration of iOS 7 may not have to wait much longer.

At least that's what Jon Gruber of Daring Fireball is suggesting. Apple is hosting its iTunes Festival -- featuring the likes of Coldplay, Imagine Dragons and Pitbull -- starting March 11 at the South By Southwest festival in Austin, Texas. The performances will be streamed to iOS devices via an app, but Gruber cites a source that tells him the app needs to be running on iOS 7.1. Thus, he concludes the update must be coming out sometime before then.

Apple's software updates have been a sore subject for the company recently. Encryption vulnerabilities were discovered last month for iOS and OS X devices, and many in the security community criticized the company for being too slow to issue a security patch.