Using 3.3V XBee with Arduino Pro Mini 5V Version
This is part of a Fritzing circuit I used to control the x'mas tree lights (the relays and sensors have been snipped out) with an XBee. This circuit uses a 3.3v LDO you may have to change the capacitor values depending on your regulator specs. I chose to use a separate 5V regulator (not shown) but it will work off the Pro Mini's +5V power rail.

There are two FETs that do the actual level shifting, the bonus transistor allows you to reset the Arduino and thus gives you the ability to program it over the air via the XBee (beyond the scope of the question, but if you want to go wireless, go wireless all the way - do the Google for wireless programming over XBee if needed). Note the 0.1uF across the XBee power pins, I recommend this capacitor be placed as close to the XBee as possible to minimize noise (I solder it across the back of the XBee interface board).