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As has only recently been recognized, X-ray binaries with intermediate-masssecondaries are much more important than previously believed. To assess therelative importance of low- and intermediate-mass X-ray binaries (LMXBs andIMXBs), we have initiated a systematic study of these systems consisting of twoparts: an exploration of the evolution of LMXBs and IMXBs for a wide range ofinitial masses and orbital periods using detailed binary stellar evolutioncalculations, and an integration of these results into a Monte-Carlo binarypopulation synthesis code. Here we present some of the main results of ourbinary calculations and some preliminary results of the population synthesisstudy for a ``standard'' reference model. While the inclusion of IMXBs improvesthe agreement with the observed properties of ``LMXBs'', several significantdiscrepancies remain, which suggests that additional physical processes need tobe included in the model.Comment: 15 pages, to appear in Podsiadlowski et al. 2001, in, D. Vanbeveren,  ed., The Influence of Binaries on Stellar Population Studies (Kluwer,  Dordrecht), p. 35

Binary Population Synthesis: Low- and Intermediate-Mass X-Ray Binarie