Sure, you can buy Microsoft's licensed Xbox 360 Kinect extension cable which adds an extra 20 feet but you'll be spending a whopping $50 for the pleasure. Microsoft also notes that you cannot daisy chain the extenders either, not that you would want to spend hundreds of dollars simply to move your Kinect farther away from your Xbox 360.
For around $5-$30 you can buy a non-Microsoft Kinect extension cable from 16 feet to a massive 82 feet. Be very wary though of just running out and grabbing any old long distance USB extension cable. Monoprice notes the following about the Kinect and its use of USB:
Important notes for Kinect users:
1. You can use this cable to connect the USB version of the Kinect only. It is not compatible with the proprietary Kinect connector. If you have a Kinect connector, please use PID 8487.
2. The Kinect requires more power than traditional USB ports are capable of providing. In order to prevent damage to equipment, Microsoft has designed the Kinect with a proprietary connector. If your Kinect did not come with a USB/Power adapter, you must purchase one from Microsoft before you can use this extension cable.
So go on and get your Kinect on, with your Xbox parked at quite a distance if your setup dictates it.
(Images/Videos: Microsoft, Monoprice)