Is it possible to connect my Xbox to Live with my iPhone?

Is it possible to connect my xbox to live with my iPhone since i don't have my modem/router in my living room? I don't want to waste 50$+ on an adapter if i could use my phone.

Is there any way i can connect my iphone to my xbox and use my iphone as the adapter to connect to the internet? Someone smart about this please respond. It would be awesome to connect my Xbox to my internet via the iphone's tethering option.

Not possible. If you have a Wi-Fi ready laptop computer you can enable ICS on it and get the console connected.