We present an improved model for the absorption of X-rays in the interstell
ar medium (ISM) intended for use with data from future X-ray missions with
larger effective areas and increased energy resolution such as Chandra and
the X-Ray Multiple Mirror mission, in the energy range greater than or simi
lar to 100 eV. Compared with previous work, our formalism includes recent u
pdates to the photoionization cross section and revised abundances of the i
nterstellar medium, as well as a treatment of interstellar grains and the H
-2 molecule. We review the theoretical and observational motivations behind
these updates and provide a subroutine for the X-ray spectral analysis pro
gram XSPEC that incorporates our model.