Easy way to grab a value out of XML?

I've been looking at the XML commands and am feeling a bit overwhelmed. My needs are simple and I'm hoping there's an easy solution that I'm just missing. I have a hunk of well-formed XML in a variable, $xml, and it contains only one instance of <price>x.xx</price>. I just want to get the $price out of $xml. What's the simplest way? - Brian