EDIT: just to also mention they work fine for other devices such as ipods, mp3 players etc.
XBOX 360® Gaming Headset with
Stereo Sound & XBOX LIVE® Chat
The Ear Force XLC is the ideal headset for cost-conscious gamers who want to enjoy improved game sound with their XBOX 360.
Unlike basic communicator headsets that only let you hear XBOX LIVE chat in one ear, the XLC combines high-quality stereo game audio with XBOX LIVE chat, eliminating the need for the mono communicator and external speakers.
The unique noise-reduction ear cushions help block out distractions, so you can concentrate on the game, enjoy the full impact of the stereo sound from your XBOX 360 and become a better player.http://turtlebeach.com/products/efxlc/home.aspx
Cheapest I can find around! for those late night gamers who dont want to disturb the family or neighbours!