Maybe, but it requires a full Sky Player-eligibe Sky account, which means you either have to already be paying extra on your base package for Multiroom or one of the Sports packages. Again, this is in addition to the Xbox Live Gold account requirement. If it was a simple, reasonable monthly fee for access to Sky channels on the Xbox without a dish it'd be a worthwhile proposition for people who aren't already Sky customers. As it is, you already need to be a Sky customer paying in the £40-50 a month region for your packages to benefit.
What we need in the UK is a decent Netflix-style system with unlimited access to a film and television library in the £10-20 a month region, accessible on our existing consoles without any surplus requirements such as the Xbox Live membership or massively overpriced full Sky package.