This afternoon you can watch a satellite launch into space that will ultimately provide interactive media services, such as navigation, roadside assistance and the mobile video. ICO Global Communications is expected to launch the $500 million satellite into space today between 4:12 and 5:12 p.m. EST at Cape Canaveral in Florida. Watch it here. RCR reports today that while other companies are delivering mobile video to mobile phones, ICO is going after a different niche—larger screens like laptops and TV screens in cars. The service can deliver up to 15 channels of content. ICO has been testing the technology in Las Vegas and Raleigh, N.C., and will launch trials with its new satellite by late summer. The company’s public content partner is NBC Universal (NYSE: GE).

The launch is significant for the company, which filed for bankruptcy several years ago, and was bailed out by Craig McCaw, who invested more than $1 billion to restructure the company. Since then, the company has been moving slowly. Last week, it announced $40 million in working capital, but it would seem they’d need millions more to build a network it calls ICO mim, which mixes satellite capabilities with land-based communications. Maybe it won’t build, but partner. About a year ago, ICO announced it a collaboration with WiMax provider Clearwire (NSDQ: CLWR), another McCaw company. The trial was expected to test broadcast video and how Clearwire’s spectrum and ICO’s spectrum could work together.