P2P TV Multicast

I've been playing with SopCast, a P2P streaming TV channel -- with mainly Chinese content at the moment.

Wouldn't it be great if there were a program that took my TV-in and shared it on a P2P network? For instance, if I were watching BBC1 through my PC, via cable, it would join a stream of everyone else who is watching BBC1, and then someone who was in China could watch the collective stream.