Another character who's been around for a while -- though didn't come out until 2004, twenty-four after her debut -- Karma, a telepath who can control people's minds, has the experience and fortitude necessary in a co-captain.
One of the newer X-Women on the scene, Bling can transform her skin into diamonds and shoot energy beams, meaning she's practically invulnerable, and is a perfect front-liner for any team, gay or straight.
Lightspeed and Karolina Dean:http://www.out.com/sites/out.com/files/imagecache/slide-image/8JuliePowersandLucy.jpg25392
Long-time readers have watched Julie Power grow up since Power -- a.k.a. Lightspeed and imbued with the power to teleport, change her size and control mass -- was introduced in 1984, and were were thrilled when she came out as bisexual and found love with lesbian hero Karolina Dean, a heroine who can manipulate solar energy and is also known as Lucy in the Sky.
As the son of the Scarlet Witch and grandson to X-Men frenemy Magneto, Wiccan, a young man who can manipulate reality, teleport, and cast spells, is basically superhero royalty in the Marvel Universe, and his work with the Young Avengers has shown he's a reliable, though somewhat moody, teammate.
Hulkling, a shape-shifter with powers and appearance similar to the Hulk's, was lucky in love when he met fellow Avenger Wiccan, but he can turn love off and become very angry when his team's in trouble. And you wouldn't like him when he's angry.
Despite his invulnerability and superhuman strength, X-Man Graymalkin has had some trouble coming to terms with his sexuality but given some time he's sure to grow into one of the team's most proud members.
A Skrull, a shape-shifting alien species who have tussled with Earth's heroes for centuries, Jazinda's one of the few her kind to be openly gay, and one of the even fewer who have proven so loyal to man and womankind.
Living Lightning has been on the back burner in recent years, but as you can see here, he's clearly trying to fight the good gay fight and is sure to jump at the opportunity to join Northstar and Karma's hypothetical team.
Another Young Avenger, Striker and his lightning powers have proven essential on the field and his presence is definitely required should this gay X-Men team every come to fruition. Why do so many gay characters have light and rainbow-based powers? Coincidence, surely.