The Facebook generation is becoming a popular target for smartphone manufacturers. The HTC Status led the way with its dedicated hardware button that offers quick access to your wall and Facebook sharing functions. Now Sony’s getting in on the action with the new Live with Walkman.

The Live seems pretty clearly aimed at younger folks and people who don’t want to spend a whole lot of cash on a social phone with a strong music pedigree. While pricing wasn’t revealed, a quick glance at the specs lets you know that the Live with Walkman should hit retail shelves at a fairly low price point.

Here’s what you get: a 1GHz processor and 320MB of RAM powering Android 2.3.X Gingerbread, microSD expansion (a 2GB card is included in the box), 3.2″ touchscreen display at 320480 pixels, 5MP rear-facing camera with autofocus and VGA front-facing cam, 1200mAh battery. There’s also a built-in FM tuner, and the Live’s TrackID integration will tell you what song is playing even when the on-air DJ neglects to. You’ll find Skype preinstalled on the device as well.

Facebook features are tightly integrated into Sony’s apps, like the picture gallery, music player, address book, and calendar. Yes, technically installing the Facebook app provides the same kind of integration on all Android phones via the share menu, but if Sony went down that route it would leave you without the Live’s Infinty button.

What’s that for, you ask? Tap it, and your phone will call up additional information about artists as well as lyrics and videos. The Live is also DLNA certified, sports Sony’s Qriocity service, and features Sony’s xLOUD tech for enhanced output from the phone’s built-in speakers.

The Live with Walkman goes on sale near the end of this year, though Sony has yet to announce which carriers will offer it. Those hardware specs make me think this might make an attractive device for pay-as-you-go carriers to hawk.