There is indeed such a thing. If I recall there are two methods that work (but dont work very well). One isnt full-duplex, so your downloads will come from the satelite at broadband speeds, but your uploads will be sent out over the phone line via a modem and will only be at max 56K (which isnt really a big issue if you arent hosting things on your pc).
Now I have heard that they have 2-way satelite internet, but it doesnt really work all that well. I have actually heard that both methods are crap.
Things may be better these days.. but thats what I heard it was like a year ago.