I would kill to be able to carve out an extra five hours a week for aerobic exercise. However, that would mean giving up either my job, giving up sleep, giving up (at least) one of my hobbies, or never watching another minute of TV for the rest of my life.
Everybody is busy. It's a question of priorities. For you, exercise ranks below all of the things you mention there. For me, it ranks above TV, and it counts as a hobby. I have enough fat relatives to have a good idea of what will happen if I don't stay active, and it isn't pretty.
Exactly, as I've read elsewhere, what's more inconvenient with your schedule: working out for one hour a day or being dead 24 hours a day?