I don't have satillite but the S2 has only one tuner. Can you watch more than one channel on your single tuner TV at a time? Not sure how you will set it up with satiliite but you probably will be limited to recording one show at a time.
Comcast Cable works perfectly with my series 2 Tivo I can record 2 shows at once but I found out the problem with sattilte you can only record 1 digital show at a time.