USB extender

Hello all!
This isn't really relevant to arduino but it is electrical so it's somewhat relevant.
I am wondering if it's possible to make a extremely cheap and long distance usb extender. Basically I am trying to have my xbox and pc and such on one side of the room and the tv/kinect on the other side of the room (wall mounted tv). So my cable has to be really long. My thinking is that if I take a USB-male and solder just two wires onto it for data and then take a USB-female and solder those same two wires to the data lines as well as a decently well regulated 5V power supply. I can have the data and necessary power at the end of the cable. Is this going to work? What problems may arise? Also, I need to do something similar with HDMI but for that I was wondering if anyone knew of a wireless drop in product for HDMI, i.e plugging one end in PC and other end in tv?
Thank you all!

No. Just buy your extremely cheap and long distance USB extender: HDMI Cable, Home Theater Accessories, HDMI Products, Cables, Adapters, Video/Audio Switch, Networking, USB, Firewire, Printer Toner, and more!

They have HDMI ones too HDMI Cable, Home Theater Accessories, HDMI Products, Cables, Adapters, Video/Audio Switch, Networking, USB, Firewire, Printer Toner, and more!

What sort of USB connection do you need, and what length do you need to achieve? Some of the lower speed USB connections can be extended to quite a few meters. There are devices which will tunnel a USB connection over a network link, but you need to check what type of USB you're using since they won't all support all USB speeds.

i hadn't heard of monoprice. it seems that they have some great products. Are they just a retailer or do they actually design their own products?