well the aus side would get alot of the places, and also because there is an Aus vs Rest of the World XI Super Series going on next year, i think it would be better to pick a rest of the world xi, and heres mine:
1 Sehwag, a destructive opener, averging over 50 in test cricket
2 Gibbs, very solid opening bat and brilliant in the field
3 Dravid, statistically the best batter in world cricket since 2002 and has the highest batting average since 2000, good record vs aus
4 Sachin, a legend, and good record against aus
5 Lara, like SRT a legend and can turn it on at any time
6 Laxman or Kallis, im slightly more tempted to go for Laxman because of his outstanding record against the aussies, he averages over 60 vs aus, whereas kallis has done precious little against them, however kallis' allround value would probably get him in there
7Sangakarra (w/k), good w/k batter with a high batting average
8 Shoaib Akhtar, has ripped through the Aus batting side quite a few times, gets these moments of brilliance
9 Pollock, superb line and length bowler.
10 Harmison, been brilliant so far
11 Muralitharan/Harbhajan Singh, most ppls choice would be Murali ofcourse but you cannot discount Harbhajan given his outstanding record against Aus, when he picked up 32 wickets in 3 tests against them
that would be my xi