If you're looking to set the TiVo to record one channel, but then also set the TiVo to a different channel to watch, it can't because stand-alone TiVo's are only designed to receive one channel at a time.
If your cable box has more than one output, or you can split the output from it, you could run a second feed to your TV.
Likewise with your satellite box. If it can feed more than one piece of equipment at a time, or the cable can be split AFTER the satellite tuner, you could run the second line to your TV.
Using different inputs or a switchbox, you could, at your TV, select between the cable box, the satellite tuner, and your TiVo.
Just remember, tho'-
If you're recording from the satellite box, you won't be able to watch a different satellite channel on the TV, unless the satellite box has two tuners.
Likewise your cable box. It also can likely only tune one channel at a time. If your TiVo is using the cable box, your TV can't use the cable box to watch a different channel.
Now if you split the cable BEFORE the cable box, you could feed unscrambled analog channels directly to your TV (again, likely thru a switchbox).