Counter target spell with converted mana cost X. Search your library for a card with converted mana cost X, reveal it, then shuffle your library and put that card on top of it.
Sure. The original wording is nice because it implies a stronger connection between the two actions, but it's nice to pare down the word count a little. Also, I forgot to include the "reveal it" clause which is obviously necessary.
Should it be X or less?
I don't think so. I want this to be a reactive tutor that is dependent on what the opponent plays, not a random Vampiric Tutor tacked onto a counterspell.