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I've read a few things about this. It seems a third party site got hacked and they posted the email addresses and passwords from that site.  Since many people use the same email and passwords for every site they visit; LulzSec told people to try them on other places to see if they worked. Here is an additional article regarding it:

http://www.cbc.ca/news/canada/prince-edward-island/story/2011/06/17/pei-lulzsec-personal-internet-accounts-584.html

Xbox LIVE was not hacked according to Xbox support. After what happened to Sony and many other sites, they would probably inform people immediately, if it did happen.

http://forums.xbox.com/xbox_forums/xbox_support/f/1234/p/23422/146733.aspx#146733