A recently proposed method to calculate the spectrum of linear, incompressible, unbounded plasma flows is applied to magnetohydrodynamic flows about X points. The method transforms the two-dimensional spectral problem in physical space into a one-dimensional problem in Fourier space. The latter problem is far easier to solve. Application of this method to X-point plasma flows results in two kinds of essential spectra. One kind corresponds to stable perturbations and the other one to perturbations that become overstable whenever the square of the poloidal Alfvén Mach number becomes larger than 1. Apart from these two spectra, no other spectral values were found.