Xbox Live Suffering From Issues Right Now [UPDATE]
Microsoft is working on it.
Update: It looks as if the issue has now been resolved. We'll report back if that should change.
Original Story: If you're having issues with Xbox Live at the moment, you're not alone.
Live is suffering from problems that are affecting Xbox One, Xbox 360, and other devices this afternoon. According to the Xbox Live Status page, this impacts users' ability to buy downloadable items and--more seriously--sign in to Live.

"Our engineers and developers are actively continuing to work to resolve the issue causing some members to have problems signing in to Xbox Live," reads an update posted at 2:35 PM PT. "Stay tuned, and thanks for your patience."
The Xbox Support Twitter shared a similar announcement but provided no further information. There's not yet an ETA for when service will be restored.
We'll update this story with any further developments or when Live comes back online.
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