  We report the discovery of periodic intensity dips in the X-ray source XMMU
J004314.1+410724, in the globular cluster Bo158 in M31. The X-ray flux was
modulated by ~83% at a period of 2.78 hr (10017 s) in an XMM-Newton observation
taken 2002 Jan 6-7. The X-ray intensity dips show no energy dependence. We
detected weaker dips with the same period in observations taken 2000 June 25
(XMM-Newton) and 1991 June 26 (ROSAT/PSPC). The amplitude of the modulation has
been found to be anticorrelated with source X-ray flux: it becomes lower when
the source intensity rises. The energy spectrum of Bo158 was stable from
observation to observation, with a characteristic cutoff at ~4-6 keV. The
photo-electric absorption was consistent with the Galactic foreground value. No
significant spectral changes were seen in the course of the dips. If the 2.78
hr cycle is the binary period of Bo158 the system is highly compact, with a
binary separation of ~10e11 cm. The association of the source with a globular
cluster, together with spectral parameters consistent with Galactic neutron
star sources, suggests that X-rays are emitted by an accreting neutron star.
The properties of Bo 158 are somewhat reminiscent of the Galactic X-ray sources
exhibiting a dip-like modulations. We discuss two possible mechanisms
explaining the energy-independent modulation observed in Bo 158: i) the
obscuration of the central source by highly ionized material that scatters
X-rays out of the line of sight; ii) partial covering of an extended source by
an opaque absorber which occults varying fractions of the source.
