My 360 Elite stopped working!

While playing oblivion, a prompt appeared on my t.v. saying the disc is unreadable and that if it occurred again, to contact customer support. I pressed ok and then the screen went black. I powered off the console and then powered it back up. The power button lights up and the green ring lights up then spins as usual but the dashboard does not load, it seems as if it tries to load because the screen blinks, after not loading, the console restarts with the same problem, it continues to do so until I power it off. I waited a few hours and tried again, same problem, I also tried removing the harddrive and replacing it, same problem. I also waited a full day before trying again, same problem. Please help if you can. Thanks