A good DAC would be wasted on satellite radio. The sound quality is truly dreadful - - extremely large amounts of compression.
That said, if you're North American it would be useful to have a satellite receiver with an SPDIF output, so it could be one of your switchable inputs on your DAC... I'm surprised none of them have it.
Here in Europe, most DAB receivers, even cheap ones, have SPDIF outputs (DAB also has the advantage of being free).
At first, a lot of us were hooking up our DAB receivers to our DACs. But the amount of compression used - - even by quality stations like BBC2 - - was really bad, and they kept increasing it in order to buy more bandwith for a greater number of stations.
The jitter on DAB/satellite radio is also extremely high. There's really nothing you can do about that - - it's in the nature of radio transmission of digital signals. Between the high jitter and high compression, you're not going to get much more than pocket-radio sound.