This is a very common question when it comes to using the Slingbox. Below is a link that provides you more information on how you could setup the Slingbox so you are able to view more than one channel at a time:
Hope this Helps!
The Sling Moderation Team
I wanted to do the same thing... So my Slingbox solo is on my little kitchen TV with a tivo which does not get much use in the kitchen, but lots of use from my iPad either remotely or while watching my TV room TV! Bottom line... You need two TVs, so sling from the least used one.
Also with the WD Live box, my bedroom no longer needs a cable box... Just sling from the kitchen..
Fyi I bought the first slingbox within a week of its availability. It is much better now..very cool technology.