Planning the Iteration
A key task to planning an iteration in extreme programming is what’s known as “signing up for work." There will be--and should always be--more user stories than you have time to deliver. That is expected, and it's a good thing. If you run out of user stories, you are probably best suited to ending the project rather than running down the tail of whatever value you can provide.
So, in your meeting, you’ve identified the user stories you want to deliver. Now, it’s time to plan the iteration itself. To do this, you need your senior delivery people, architects, tech team leads, QA leads, etc, to put estimates next to each piece of work. Some will be small, and some will be big; again, this is expected. Your job, as PM, is to now “sign up" or “accept" the amount of work that you feel can comfortably be delivered in the available time.
The key is to be delivering the highest priority items at all times. Ideally, it would be in strict order, but sometimes that isn’t possible. But you should minimize the amount of lower priority items you are delivering. The final step in the process is to select the stories you will be delivering and publish that list back to the business owner for ratification. Once the owner or owners agree, you are ready to start the iteration.