Export Table as Excel file with .xlsx extension

Idea created by at8808_1 on Sep 15, 2014

    The current arcpy.TableToExcel_conversion command only exports to Microsoft Excel 5.0/95 Workbook (.xls) format, which is preventing me from using vlookup in another Excel file to grab data from the output .xls file. It would make more sense to have an option to export as .xlsx or .xls 
    The functionality of the current output is severly limited using the older Excel format.