If your monitor or TV has a normal headphone sound jack all you have to do is plug the headphones into this. It's really that simple. If not though, I think the xbox 360 has some headsets that run through the TV and the xbox itself, mainly the turtle beach headsets.
Research the subject before posting a reply whipaura.
trevans12 - Not natively compatable. You can however as whipura suggested run the headphones from your TV or stereo headphone jack. To get the mic working however.. you will need to purchase a 3.5mm to 2.5mm audio coverter. This is because your xbox contoller has a 2.5mm socket, but the senheiser's come with a 3.5mm plug.
With this config you can use your xbox live account settings to route all voice through the headphones. This works.. however is still not the best solution.
For the ulimate ability to control Voice and Game levels / mix, you'll need some sort of mixer.. possibly like the small Mixamp that Astro gaming make.. (I'm sure there are others, but this is the one I have tripped on).
I've been researching this for weeks, and as a big fan of the quality of Senheisers that I currently use for single player gaming, dj'ing and generally listening to ipod etc. I'm pretty excited to be getting myself the Astro Mixamp, but feel I will be running a better quality headset than the Astro's in the form of the Senheisers PC350's.
I know this is a late reply trevans12, but I hope it helps
PS. Be careful of the Turtle Beach wireless, they run at 2.4ghz.. and you may get ALOT of interference on them from your wireless router, cordless phone, automatic garage door etc. Don't wanna spend big $'s on a headset only to have them pop, hiss and crackle at you.