Is liubo (六博), the ancient Chinese board game, an ancestor of xiangqi?
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Direct answer
Not directly, as far as the evidence shows. Liubo (六博) is a genuinely ancient Chinese board and dice game, documented many centuries before xiangqi's Song-dynasty form, but its exact rules fell out of use and were largely lost well before xiangqi existed. The two are both old and both Chinese, which is most of why they get connected, not a documented line of descent.
What is actually known about liubo
Liubo appears in early Chinese texts and archaeological finds, played with counters and throwing sticks or dice on a marked board, and it was clearly popular for a long stretch of early Chinese history. But because its precise rules were never fully preserved, and because it faded from use well before the Song dynasty, historians cannot trace a clear mechanical link from liubo's play to xiangqi's.
Why the confusion is understandable anyway
Both are old, both are Chinese, and both eventually gave way to newer games, which makes them easy to lump together as "ancient Chinese board games" in casual accounts. Xiangqi's own documented ancestry runs through a different, better-evidenced family shared with chess and its Indian relatives, not through liubo. See how xiangqi is related to chess for that actual lineage.
Related questions
Is liubo still played today?
Not in its original form. Its exact rules were lost, and modern attempts to reconstruct it are scholarly exercises rather than a living tradition.
Are there other lost Chinese games sometimes confused with xiangqi?
Yes, several early games are known mostly by name from historical texts, without enough detail surviving to compare them meaningfully to xiangqi.