Maserati has been stepping up its game as late, and it doesn’t look as though the Italian automaker has any intentions to slow its roll. Recent spy shots revealed Maserati is working on a convertible version of its GranTurismo, and a new report indicates that the Italian firm also plans to bring a compact two-seat roadster to market sooner than expected.

Rumors of the new model first broke in July, but the U.K.’s AutoExpress has compiled some new details. The new model – simply dubbed Spyder – will be a more compact model than the GranTurismo Spyder, and is intended to take on the Porsche 911 and Jaguar XK. Like those cars, the Spyder will be available as a 2+2, although the rear seats are said to be removable, and probably not usable for adults.

However, unlike its rivals, the Spyder will utilize a retractable hardtop, much like the one used on the Ferrari California. Thanks to lightweight materials, the hard top roof will actually be lighter than a comparable soft top.

Underhood, the Spyder is slated to use a slightly detuned version of Maserati’s 4.2L V8, producing about 350 horsepower. Although that will put the Spyder about 50 horses down from its bigger brother, its lighter curb weight and modified DuoSelect transmission should help the Spyder match the GT’s 0-60 time of about 5 seconds. Top speed is said to be in the 170 mph range.

Look for the Spyder to make its debut in 2009, with sales following shotly after. Prices are expected to start at £60,000, which should undercut the GT Spyder by about 30 grand.

Seen below is an illustration of how the rumored vehicle might look.