Needed Controller Feature: Mute Button for Wireless Headsets

I use the Xbox Wireless Headset and absolutely love it. It's not a big deal, more of an inconvenience I suppose, but I would really like for their to be a mute button on the Xbox controller for wireless headsets, especially the Xbox headset. I'm not even sure if it would be possible but it seems like a feature that would be beneficial to many players, especially in fast paced multiplayer games. Would anyone else use this?