Waugh led Xavier with 28 points in the contest. Senior guard Reetta Piipari added 14 points for the Musketeers. Freshman Tara Boothe, a graduate of Highlands High School in Northern Kentucky, scored 14 points while grabbing nine rebounds.
Xavier (2-0) will play the winner of Friday?s late game between Colorado State and Davidson at 9 p.m. Saturday.
ULM jumped out to an 8-2 lead with 17:40 left in the first half. But the Musketeers quickly responded with a 9-0 run to go up 11-8 with 15:51 left in the period.
But the Lady Indians regrouped, and behind superb shooting took a 27-17 at the 7:15 mark. At that point, ULM was 11-for-16 from the field. Xavier clawed back into the contest, and trailed 35-32 at halftime. For the half, ULM shot 62.5 (15-24) percent from the field. Waugh ignited the Musketeers after intermission. She scored 13 points, including three three pointers, as the Musketeers out-scored ULM 15-2 in the first 5:05 of the second half. Xavier stretched the lead to as many as 21 in the second half as ULM struggled to shoot just 27.3 percent (9-33) in the period.
Xavier shot 51.7 percent (31-60) for the game.
Alexis Henderson added 10 points for the Musketeers, while Aida Sarajlija scored eight off the bench.
For the second game in a row, freshman Kristy Wallner grabbed nine rebounds, to equal Boothe for the team high.
D?Wayna Freeman led ULM with 17 points in the game.
Xavier enters Saturday?s championship game having won three in-season tournaments in the past three seasons.
Following Saturday?s game, the Musketeers will return home to host the Provident Bank Xavier Invitational on Dec. 7-8 at the Cintas Center. XU?s first game will be Saturday, Dec. 7 at 1 p.m. against Central Connecticut State. Michigan and Saint Louis will play in the other game.