I purchased and installed that very same thing in my vehicle it is exactly what you need. Works great and you still have steering wheel functions! Also installed a direct connect for my iPod (with steering wheel function) at the same time. Purchased both from this store on e-bay http://stores.ebay.com/Integration-Solutions
No problem. It is the easiest and clutter free (nothing on or around the dash) way I found to do this. Mounted the iPod in the glove box so I wouldn't have to drill holes in the dash. Good luck with the install!
I have always had Sirius before I got my current E. Just got the best of Sirius and didn't find any difference...actually ended up with a little more than I had channel wise! In my old E I put a Starmate mounted on the passenger dash area....drilled a hole to run the wires through and had it hard wired and it worked out great! It was very clean and could not see any wires.