I don't have much satellite experience (use cable at home), but you would need to have two separate tuners to do what you are talking about. I seem to remember hearing about two-tuner TiVo units of some sort, which were specifically marketed toward what you are talking about, but I don't know which units they were or what satellite service might use them. Short of having a two-tuner unit of this type, the only way to be recording one thing and watching another is having two separate receivers.