sed to remove partial text in one line only

I have test.xml XML file like

<Report account="123456" start_time="2014-09-08T00:00:00+00:00" end_time="2014-09-10T23:59:59+00:00" user="Dollar Tree" limit="1000000" more_sessions="some text ">
<Session ......rest of xml...............

I need output like

<Report>
<Session ......rest of xml...............

Can some one help me how to use of SED command to get the desired output..

sed -e 's/\(<Report\)[^>]*/\1/'

Hi,

Thanks for your reply..I have tried below command

sed -e 's/\(<Report\)[^>]*/\1/' test.xml

but i cannot see the output as

<?xml version="1.0" encoding="UTF-8"?>
<Report>
<Session ...>

The report tag description is not deleting ....I can see the same old output as

<?xml version="1.0" encoding="UTF-8"?>
<Report account="123456" start_time="2014-09-08T00:00:00+00:00" end_time="2014-09-10T23:59:59+00:00" user="Dollar Tree" limit="1000000" more_sessions="some text ">
<Session ......rest of xml...............
sed -e 's/^<Report.*$/<Report>/'