How to receive slow bit stream data using GXB

So to oversample a bit stream of 311.04MHz 5x, I just need to set the transceiver in basic mode, tell the transceiver that the bit stream data rate is 1.5552gbps, and set the PMA-PCS interface width to be 10 bit, this way the output of the transceiver will be 10 bit wide and 155.52MHz data rate, represent 2 bits of the actually data. Then I will write custom code to determine the 2 bit value from the 10 bit and maybe convert it to back to 311.02Mbps bit stream that is synchronized to the local clock, then do the deserializing, 8B10B, etc.