  We present an analysis of an XMM-Newton observation of the M dwarf binary EQ
Pegasi with a special focus on the the spatial structure of the X-ray emission
and the analysis of light curves. Making use of data obtained with EPIC
(European Photon Imaging Camera) we were for the first time able to spatially
resolve the two components in X-rays and to study the light curves of the
individual components of the EQ Peg system. During the observation a series of
moderate flares was detected, where it was possible to identify the respective
flaring component.
