So you have a Xbox 360, which can play divx and xvid, while you just wonder if it can play more other videos files like M4V? The answer is simply No, but it's not absolutely impossible.
As we all know, the movies from iTunes store are DRM protected in M4V format usually, so if you want to play your M4V itunes videos on the Xbox 360, you can use a DRM video converter to remove the DRM and convert the M4V to MP4/AVI format, which Xbox 360 can play. I suggest Noteburner to you all, this software is designed specially for users to convert the purchased DRM M4V videos to other DRM-free formats for playing on any other non-Apple devices.
Well, here below is the step by step tutorial video for Mac users to help put the M4V video to Xbox 360 for playing.
What you will need: Noteburner M4V Converter Plus for Mac
More information about Noteburner
Noteburner M4V Converter Plus for Mac is the most powerful DRM M4V Converter, which is designed for Mac users to remove the DRM from the purchased and rented iTunes M4V videos in a relatively legal method. You can use this softare to remove the DRM and convert M4V to MP4, AVI, MOV, FLV, MOV etc. After the converting, you can transfer the converted videos to any media devices like iPod, Motorola, Samsung Galaxy, Xoom, Android, Nokia, HTC and more.
Plus, the conversions can be done in batches or singly by adding files to the menu and designating the destination for the new file.
Just download the trial version to have try.