I have XML stored in string variable:
xxx 000 Defaul
System.Xml.XmlDocument and the associated classes in that same namespace will prove invaluable to you here.
XmlDocument doc = new XmlDocument();
doc.LoadXml(yourString);
XmlDocument docNew = new XmlDocument();
XmlElement newRoot = docNew.CreateElement("MasterList");
docNew.AppendChild(newRoot);
newRoot.InnerXml = doc.DocumentElement.InnerXml;
String xml = docNew.OuterXml;