Xbox 2 News
If you're interested in reading about the latest gossip on Xbox 2, then you'll want to visit xbreporter.com. One of the latest rumors on xbreporter discusses support for the .NET Framework:

• MSIL all the way
  The CPU for the Xbox 2 is rumoured to be designed to be a processor that can decode and execute instructions in Microsoft Intermediate Language (MSIL) while at the same time being able to run x86 code, to remain compatible with Xbox  

from [http://blogs.msdn.com/danielfe/archive/2004/04/29/123041.aspx]