Microsoft has confirmed that the online component of the Xbox 360, Xbox Live, is currently not allowing players to log in. Although the reason is yet to be discovered, rest assured that Microsoft is on the case.
According to the official Twitter account, Microsoft states “We are aware of the issues some users are having with Xbox LIVE and are actively investigating. Thanks for your patience ^KN”.
Account access is also a problem for the official website Xbox.com. We will keep you updated as more on this story progresses or if Microsoft comes up with a fix.
source | twitter
UPDATE
As of now the full Xbox 360 live system should be back. If you are still having issues please let us know below.