Formal methods can be used at any stage of product development process to improve the software quality and efficiency using mathematical models for analysis and verification. From last decade, researchers and practitioners are trying to establish successful transfer of practices of formal methods into industrial process development. In the last couple of years, numerous analysis approaches and formal methods have been applied in different settings to improve software quality. In today’s highly competitive software development industry, companies are striving to deliver fast with low cost and improve quality solutions and agile methodologies have proved their efficiency in acquiring these. Here, we will present an integration of formal methods, specifications and verification practices in the most renowned process development methodology of agile i.e. extreme programming with a conceptual solution. That leads towards the development of a complete formalized XP process in future. This will help the practitioners to understand the effectiveness of formal methods using in agile methods that can be helpful in utilizing the benefits of formal methods in industry.