Yes there really is a Christmas Island! Actually, there are two Christmas Islands! One is in Micronesia in the Pacific Ocean and one is administered by Australia in the Indian Ocean.
This Christmas Island flies the Australian flag. On the 25th of December, Christmas Day, in 1643, an island off the coast of Australia was discovered and because of this, the island was appropriately named Christmas Island by Captain William Mynors. Christmas is celebrated on this island as is the Chinese New Year.
On the 24th of December, Christmas Eve, in 1777, an island in Micronesia in the Pacific Ocean was discovered by Captain Cook. And so named Christmas Island. True to its name of Christmas, the island has been an island of peace. No fighting occurred on Christmas Island during World War II; however, it was a staging area for the Pacific theater, and the roads and airfield created for these purposes are quite extensive. Today a Japanese downrange satellite tracking station is located on the island. The island received its independence from Great Britain as part of Kiribati in 1979. The native Christmas Islanders are mostly of Gilbertese decent. Most of the local people speak English although the native language is I-Kiribati.
Geologically, the oldest atoll in the world's oceans is Christmas Island, lying just 119 miles north of the equator in the Line Islands. Aboard the Discovery, the astronauts had one of the best views ever of Christmas Island, the old atoll more often than not being covered with towering cumulus clouds. The lagoon is nearly completely filled by coral growth.