On windows media player? probably not...
However, every TV tuner card comes with software to play the signal.. The one that I have came with WinDVR and it works really well..
Thermaltake Xaser II A5000C (w/ 5 case fans)
AMD 2500+ (OCed to 3200+)
Asus A7N8X Deluxe
1 Gig Corsair XMS low latency pc3200
2x 80g Maxtor SATA (w/ Raid 0)
128Mb Nvidia GeForce FX 5700 Ultra
480w Thermaltake PSU
Video Capture Card (titantv.com ROCKS!)
16 Sony DVD Rom
52x/32x/52x Optorite CDRW