Combine the $125 Extigy and the $60 DeskTop Theater 5.1 DTT2200 speakers and you've got a 5.1 setup for the XBOX for under $200.

http://www.americas.creative.com/pro...SearchSite=yes

This probably isn't suitable for a large living room but if the XBOX is in your bedroom or dorm room this might be a solution worth considering.