If you are asking if the cable signal can be split and then sent to your TV and an AIW card, then yes, it's pretty simple. I am using my 10-year old Radio Shack signal booster/splitter because it splits the signal and also amplifies it (I have long cable runs, and I found the booster actually game me back some of the channels that I couldn't get on my TV because of signal loss).
I've got the coax cable going into the booster about 3 feet from the wall outlet, and then I'm using two of the 4 available leads to send the signal over 2 long coax cables to my TV and AIW VE. Works like a charm and there is no problem running both at the same time on different channels.
I don't know if RS even sells the booster I have anymore. The input and outputs are the 2-screw type, so I have to use those rabbit-ear-to-coax adapters to connect it to the cables. I did see a Phillips model at Walmart that looked to be about the same thing, except the in/outs were coax (there were only 2 outs, though).
Then again, were you talking about the cable internet connection or the cable TV connection? I've got one for each coming out of my wall, so I may or may not have answered your question.