As part of a larger setup, I am controlling my sat receiver with an IR diode controlled by Arduino Pro Micro. This generally works, but the hardware setup is somewhat complicated, as the IR diode has to be seen by several pieces of equipment.
However, it happens so that the sat has a 3.5 mm socket labeled 'IR'. In the manual it is only described as 'External IR sensor port'. I assume it is for sensors like this:
I did some playing around with IR some time ago. At that time I had an IR receiver / decoder that included a built in IR diode and decoding logic. It output a pulse train.
I suspect the sensor you linked to is a similar decoder, based only on the need for three connections. Really not much to go on but its my best guess.
That being the case it would be easy to simulate the receiver with an Arduino.
I would purchase the sensor in you link and try it with your sat box. If it works then you're on you way.
If you find it is possible I would use the opto-isolator like that suggested by @Watcher. By that I mean if I were to build such a thing I would use the opto.
Reason:
Without going into a long discussion that there is not such thing a "ground" in applications such at these.
What may be common on the sat receiver (I prefer to use common in place of ground), may be at a different potential than your Arduino. The difference could be DC or AC or both. Connecting them together could result in any of the below:
