Curious Regarding FFMPEG for Xbox 360

I was curious if we will see a port for the FFMPEG library on the Xbox 360. I am extremely interested in making a media-player front end for the Xbox 360 and feel RetroArch is a excellent place to do so, although I am curious if we will be seeing a port which will be able to play standard video codecs such as H.264, etc.

Thank you kindly.