The DVD is out: 7/29/08
Confirming the news, SATELLITE IN THE SKY is now out on DVD, part of a double feature with the time-travel drama WORLD WITHOUT END. No extras of any kind, however. But the good news is that this appears to be the first time since its initial release in 1956 that SATELLITE can be seen in widescreen and in color -- all TV and even VHS prints were pan & scan and only in black & white.
At present it is a Best Buy exclusive, though it'll go into wide release on October 7.