Be patient. It won't be long before the web takes over for satellite/cable TV. I expect in a couple of years you'll be able to watch ANYTHING live via webcast, especially niche-type programming. Yeah, you'll have to have cable/broadband, but most people will have it in a couple of years. And then you'll be able to save the webcast on your harddrive and burn your own DVD.
For now. . . OLN is the only north american choice to watch cycle racing. I suggest VeloNews, CycleSport or Pro Cyclign magazines to help you get your racing fix.