Shall you use one of these, according to Oxford Dictionaries Online, you should only use an apostrophe "for the sake of clarity".
There are cases, like this in Statistics, where you can use the plural, for example, for a variable as the p value. You would then write ps to show the use of multiple p values.
However, these are different variables, with possibly unrelated calculations (even though the formula is the same). In the case of a sequence, xi is already a generic term, representing the sequence itself.