it is realatively easy to do so. all you do is install tsreader get it running with your card. choose the "pmt" of the channel you wish to broadcast. then in the play back section of tsreader there is vlc section ( you will have to setup the option for vlc in tsreader "the program location")
now you just have set the setting for vlc where you want it broadcast too..
example command line is:
vlc -vvv
http://127.0.0.1:1234 --sout=#duplicate{dst=std{access=udp,mux=ts,url=192.168.0.2:8000}}
127.0.0.1:1234 is how vlc communicates with tsreader on localhost setting
that was my Idea to the developer to communicate on a localhost, now I tring to convince him make it write it to a dynamic buffer file that vlc can access directly. but we will see about that-- maybe..