...if you cannot exchange the pipe you have for one with the bungs already in place. Note that the xpipe is probably not thick enough to hold the threads when you tighten down the sensor, hence the need for the weld in bungs. Hope this helps.
Have a muffler shop install the bungs for you. Cost me $40 to install a bung for a wideband. So around $80 dollars and your in the ball park. Screw them in and bam your done.
Cut off the top section of a spark plug defouler and weld it to the pipe. Has threads for the right thread size and pitch. Use a tap after because there are some precipitates from the welding. Always do that because the threads will absolutely be different after welding (warping and precipitates clogging the threads).