Oh those Hypervisor Vulnerabilities! They open up our Xbox 360s to all kinds of shenanigans. Just three weeks ago, the first proof of concept hack utilizing the Hypervisor Vulnerability was released, and now we've reached the next benchmark: Linux. We're not sure what compels hackers to wedge Linux onto every possible platform, from iPods to Xboxes, but that's not really the point. The point is that the Xbox 360 has been successfully hacked and is running practical unsigned code. Of course, you'll still need the proper kernels (4532 or 4548) which were updated some time ago to combat this very possibility.
As usual, we won't pretend to understand all the technical jibba jabba, so we point you to our friends at Xbox-Scene, where you can learn all you need to know. Should you decide to dabble in Linux (or something else) on your Xbox 360, let us know how it goes.
Anyone out there itching to give it a try?