You'd have to do some research to see if the bundled IR blaster will work with your satellite box. Just in case you didn't know, an IR blaster is basically an IR cable that acts as a remote to change channels on your satellite or cable box. So, the HTPC will be sending remote commands to your satellite box and recording content after it has been descrambled.
I've never gone the IR blaster route myself. Seems like a hassle.