According to the Motorola Europe Facebook page, the Android 3.1 update has started rolling out to the European variant of the XOOM. This update brings a several new features and improvements, including one feature that the US XOOM didn't get: SD card slot activation. This is, of course, due to the fact that the US XOOM is considered a "pure Google experience" device, so it's up to Google to push updates in the States - not Motorola.
Once this update hits your device, you'll also get the other assorted goodies that come along with Android 3.1: resizable widgets, USB host support, as well as improved performance and stability.
If you're holding an EU XOOM, then you can expect the update to hit your device sometime in the "next several weeks," so make sure to drop us a line when you get it.