Stand alone decoders are getting harder and harder to find, as more and more of the market if being segmented into 1) Logitech speakers with decoders (such as the Z-5500s which some people refer to as "cheese" speakers, but I don't think they are that bad) and 2) The exodus back to real home theater speakers with receivers.
A couple years ago the computer speaker market was fairly big and growing, but since the ipod craze, there's been more and more people in search of revealing, musical speakers (which is why the computer market is becoming solely focused on 2-channel solutions like Altec Lansing and the Klipsch iFis). This is part of the reason why Logitech is now a niche company as it stands alone as the last company who is trying to pawn off computer speakers as a home theater system--the sound quality just isn't viable anymore, and 90's style, bigger bookshelves and floorstanders with far greater power handling and accuracy are coming back in style.
But back to your particular question, you are slightly confused I think. You don't need a *sound card* and have the signal run from your source (Xbox), to your comp, and finally your computer speakers. You merely need a decoder. All my rambling so far is to point out why stand alone decoders for PC use aren't widely available anymore. The market is drying up for PC speakers. Klipsch used to sell the the DD-5.1 decoder for $249 with the Klipsch 5.1 Ultras. I'm sure there are many more options but this is the only one I can think of right now. Check around for online vendors or used bins. Here's an eBay auction which will last another 38 hours; it's currently at $20.50. I'm no rocket scientist, but I suspect the final price won't be significantly under $150, given previous auctions (although on eBay, this is not a surefire way of calculating things, it might end up alot cheaper).
The decoder is pricy (I expect most to be), and here one thing becomes obvious: computer speakers aren't really any cheaper than home theater speakers, in fact I would say the bang for the buck is quite inferior. For $250 you can have an exceptional receiver that is decoder AND amplifier. For the price of a flagship PC speaker setup you can have a pair of bookshelves and a sub that are several times more linear. It all comes to show, the PC audio market is a little too much flash and marketing, and not much actual delivery.
http://cgi.ebay.com/Klipsch-ProMedia-DD-5-1-Digital-Dec...
Happy hunting.