Edit: Silly me, I forgot about hotswapping... YOU DO NOT NEED THE EEPROM as said in the post above..
You can read about hotswapping in the exploit forums (I think, haven't been there in a while..
)
You will need to chip your xbox now.
Grab a 15-30w soldering iron from Radio shack or The Source by CC (if in canada) and some really thin, rosin core solder.
Practice on old computer components, then order a chip like the Duox2 or if you want, an Xecuter 3
Or, get a solderless chip.