Welcome to the forums.
No, unfortunately it can't work.
The TiVo series 2 is not a computer, but a specialized Set Top Box (STB)
These STBs usually use a MIPS processor, and XBMC has not yet been ported to MIPS. In addition, since they are not computers, they do not have any 3D graphics hardware, and thus do not support the Hardware Acceleration needed to render the XBMC GUI at an acceptable frame rate.
Such 3D hardware must support OpenGL 1.4, but DirectX ad OpenGL ES support are being worked on. Sadly, without 3D graphics hardware, this box can not support any of these APIs.
http://en.wikipedia.org/wiki/TiVo_digita..._recorders
Quote:Series2 TiVo systems are based on MIPS processors connected to MPEG-2 encoder/decoder chips and high-capacity IDE/ATA hard drives.
XBMC currently runs on x86 architectures, PowerPC, and compiles on ARM. It's hardware acceleration supports OpenGL, but is being ported to run on OpenGL ES and DirectX.
Please see this article for more reasons why this won't work:
http://forum.xbmc.org/showthread.php?tid=40236
-Wes