The gender of the first cable is wrong--it would need to be XLR female. But the signal you would get would be unusably quiet anyway. The raw output of a microphone is at a level called mic level, which is on the order of millivolts (it's the energy that can be generated from the sound waves bumping into the mic element--think trying to power a wind turbine by yelling at it).
To get to a usable level (line level), something in the signal chain between the mic and your computer needs to have a preamplifier (aka preamp). Given a normal XLR mic like your SM58, the simplest thing is just a basic audio interface, which is what the X2u is. It's not just converting XLR to USB (such a thing doesn't even really make sense on its own), it's actually a preamp, analog->digital converter, and audio interface in one package.