It would work but only if you intend to just download stuff and not play games on it. Latency would be pretty severe and compared to any land-line based internet and games needing updates almost every split second, the time it takes for the signal to hit the satellite and be retransmitted would make the game unplayable (extreme lag). And I believe that Live has a certain ping range for you to beable to create or join games, if you are not within its range, it simply ignores you I think. Heck, if you can configure your 360 and your computer through ICS, dialup might give you a better chance, but a very slim one.

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