I've never used RxPy, but I have a bit of familiarity with RxJS.
RxPy has a number of built-in methods that you could likely use for this purpose, but I'm inclined to create an Observable factory. Taking ObservableCreation.from_array as our guide, let's try that now. (Note: I haven't run this code, but it should get you most of the way there)
from rx.observable import Observable, ObservableMeta
from rx.anonymousobservable import AnonymousObservable
from rx.concurrency import current_thread_scheduler
class ObservableFile(Observable, metaclass=ObservableMeta):
    @classmethod
    def from_file(cls, readableFile, scheduler=None):
        scheduler = scheduler or current_thread_scheduler
        def subscribe(observer):
            def action(action1, state=None):
                try:
                    observer.on_next(readableFile.next())
                    action1(action)
                except StopIteration: # EOF
                    observer.on_completed()
            return scheduler.schedule_recursive(action)
        return AnonymousObservable(subscribe)
Then just use it like this:
res = rx.Observable.from_file(sys.stdin)
This will create an observable over each line of stdin until EOF. It's blocking, but there are ways around that. It can also be tuned with a different scheduler.