Yeah, Like Rewbs said.
Because of the heavilly restrictions in the mod file, I'd recommend using mod files that were written as mod files instead of xm files, or make your own mod file from scratch.
There's a high chance that most of the dynamics will be lost and it can easilly be that notes are played with the wrong toneheight (creating off-key notes) and they do have a start but no end (because mod doesn't support note-off, but only note-cut.)
You might have alot more work on the editing afterwards than it will gain you eventually.