thismeintiel on 05 May 2014
Would be pretty funny if they did, seeing as many MS fans seem so preoccupied with Sony's financial situation. 
Of course, if they spun it out, the Xbox strategy would have to change dramatically without MS's deep pockets. Which means no more moneyhatting 3rd party games and/or DLC. They would also not be able to cut price so dramatically, something they need to do to stay competitive this gen.
Personally, I think if the Xbox division was spun out, it wouldn't last very long. Sure they have Live money coming in, as well as 360 money, but that is going to dwindle in the coming years as people move onto to next gen. And if sales of the One continue like they are, then they won't be getting much money there, either.
