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Steam is a competitor to Microsoft's GFWL.

Not until Microsoft is willing to concede Game For Windows LIVE platform DONE AND DEFEATED, will anyone see STEAM on XBOX 360.

Of course, by doing that, that would mean another loss and defeated segment among Microsoft's slowly diminishing portfolio.

Microsoft has lost the internet to GOOGLE, FaceBook and others....Microsoft has lost Zune with Zune Marketplace likely to soon follow.....Steam and other services are already making a mockery of GFWL.
XBOX...while doing well, has still only been good enough for second fiddle, and soon to be third. Mobile Windows division has seen little success against Android and IOS. Windows is also threatened daily by obsolescence because of internet Cloud services and a possible and future Android OS launch.

So you gotta ask yourself....Does Microsoft really want to let Steam onto XBOX 360 and XBOX LIVE?