In order to render a realistic star background, I could either use an image texture (either mapped onto a sphere or a cube), or a set of dynamic points. I opted for the latter so that I could more easily support changing my field-of-view (i.e. "zooming-in") without losing detail on my background.
Numerous star catalogues are available in the public domain. I opted for the Hipparcos Catalog, which lists the positions of approximately 100,000 stars. I converted the catalog to XML and then used the Content Pipeline in XNA Game Studio 3.1 to compress the XML to an XNB file. The data can then be loaded at runtime simply by using:
BackgroundStar stars = Content.Load<BackgroundStar>("hipparcos");
BackgroundStar is a simple class containing information such as position, brightness, spectral type etc. for each star in the catalogue.
I was really surprised at the level of performance I got when rendering these items, initially as point primitives, and subsequently as point sprites. For the latter, I created myself a simple blurred sprite which I sized according to the brightness, and tinted according to the spectral type of the star. As an example, here's a screenshot of Orion taken with both a wide and narrow field-of-view.
One of the issues here is that the apparent magnitude of a star is a logarithmic scale. This means that the faintest stars visible to the naked eye (around magnitude 7-8) are approximately five thousand times fainter than the brightest star in the sky (Sirius, magnitude -1.46). The Hipparcos Catalog lists stars down to around magnitude 14, so in order to render this range of magnitudes with only 255 levels of luminance I had to flatten the brightness curve.