  We present preliminary results from a detailed analysis of the X-ray point
sources in the XMM-Newton survey of M31. These sources are expected to be
mostly X-ray binaries. We have so far studied 225 of the 535 sources found by
automated source detection. Only sources which were present in all three EPIC
images were considered. X-ray binaries are identified by their energy spectrum
and power density spectrum. Unlike in other surveys we have obtained source
luminosities from freely fit emission models. We present uncorrected luminosity
functions of the sources analysed so far.
