iMac and Xbox 360...?

Hi folks,

I have a new mid-2011 iMac with Thunderbolt and an Xbox 360 with a VGA out adapter.

Can i hook these up with the mini-displayport/thunderbolt to VGA adapter and use the iMac as the xbox screen?

I know this was possible with the previous generation iMac but since Thunderbolt was added I can't find a definitive answer.

Does anyone know? Anyone find out?