Setting up my 22" LG was a bit tricky since it only has a VGA and DVI input. I had to buy 3 things.

1. An HDMI to DVI Converter - This went from my Xbox to my Monitor.

2. Cant remember what this was called , but it was for the sound. (It plugs in underneath where the HDMI cable goes into the Xbox.

3. A 3.5mm adapter which plugged into the above mentioned cable. In here is where my Wireless Headset goes.

Took me a week to find the stuff, but i eventually got it working!