[nialli]

Sky and Netflix are competitors for content in the UK so I can't see them tying up. Sky's pre-emptive OFCOM defying strike of signing up exclusives with all the big Hollywood studios and HBO that limits what Netflix has available here.
US service has a vastly superior catalogue - it'll be interesting to see if those with a US Netflix account (you can legally access Netflix US content via a VPN) will work on the TiVo.
There's no reason that this will lessen the likelihood of Sky Atlantic et al arriving. Maybe some are applying the logic that VM had to spend cash on either more Sky HD channels or Netflix, but there's no evidence of that being the situation.
I think it's great news.