I think it may be possible, as theres an adapter for use with macs, although not sure if it requires something on the xboxs side too. If not you can use a HDMI cable and then use an adapter on the end to convert HDMI>DVI
Sorry just noted that your model number, on page 37 of your manual it suggests it takes a PC analogue connection and therefore you require a DVI to VGA adapter plug.
I have used component in the past but there are more artifacts than VGA.
Also I should of said I have tried a VGA - DVI adaptor and it didn't work. Although this could of been as with the adaptor on the cable didn't seat properly.