Macbook - Xbox 360 internet logistics question

OK, this may sound really stupid, but I'm trying to decide whether an XBOX 360 is worth getting, and access to the internet would greatly influence my decision. I have a wireless network set up in my house, and my MacBook connects to that via AirPort. I'm wondering whether it would be possible to hook up an XBOX 360 via ethernet cable to my MacBook and access the internet from my wireless connection through my MacBook to the 360. I guess I'd be using my MacBook as a router or something then. I need to know if this is possible, or if I need to hook up the 360 directly to the modem where my internet connection is. Sorry if this sounds confusing or greatly stupid, but that's my dillemma.

Yes you can, but wireless internet is not as fast as hardwired, if you are intending on being a hard core gamer online, the hard wired set up would be better for you.