Xbox 360 elite not reading disc

Your cache might be full. On your dashboard go to My Xbox, select System Settings then Memory. On whatever memory device you are using hit the Y button (not A) and select Clear System Cache. This problem is a bit like when your temporary internet files on your PC gets full to the point where it can no longer allow for any more information which causes your internet to slow down significantly or to not load any pages at all. It also works like ram. Basically if your cache is full it drags down your console and can cause other problems like not automatically signing in to your profile though you have your console set up to do so. In using this solution you will temporarily lose your gamer points but you will regain them the next time you log in to your gamer tag. Another thing you will lose is any updates you have installed but you will be prompted to redownload these. Hope this helps.

So yeahhh.. i just blew as hard as i can into any sort of opening into the elite.. i opened the tray and blew reallyyy hard in there.. there's some holes on the side of it.. basically just blow all the dust out.. **** worked for me

I was having the same problem and i took apart my xbox and moved the lense and then i put it together and it worked. theres a youtube vid of how to do it

Unfortunately, either your lenses in your 360 have worn out, or the lasers in the disc reader have short circuited. Both outcomes require you to either send it in to Microsoft, or buy a new 360.

There's a time for all of them =(

Try using a Lens Cleaning CD (available at good electronic and game retailers)
If not, it may be that the lens is damaged... call (1-800-4MY-XBOX) and talk to a XBOX Representative