Right now, no... by the time DKS is out in North America, maybe.
There were too many changes in DKS (redesigned flying fortresses, changes to enemy placement and loot, etc) to maintain save compatibility. Lar mentioned recently the possibility of creating a tool to import D2:ED saves and export them to the FoV section of DKS, but it would have to wait until the FoV to DKS conversion patch is done. If such a utility does get released, I don't know if an Xbox version would be feasible (though in theory it could get added to DKS before the North American release, or later as a patch or add-on).
In any case, you will be able to start a new level 35 character at the beginning of the FoV section of DKS.
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