Taco Bell to release first breakfast menu item: Waffle Taco

Taco Bell is planning to roll out its first bid into the $50 billion limited-service breakfast business-- the Waffle Taco.

The Waffle Taco is a warm waffle wrapped around sausage or bacon, scrambled eggs, cheese and syrup.

According to restaurant consulting firm Technomic, Taco Bell's share of the breakfast market could be $700 million the USA Today reports.

Other outside-the-box items include:

- A.M Crunchwrap: Scrambled eggs, hash browns, cheese and bacon or sausage in a warm tortilla.

- Cinnabon Delights: Poppable pastries filled with Cinnabon frosting and coated with sugar.