I installed the Lexus iPod adapter about a month ago on a 2007 RX 350 and it works great - I especially like the steering wheel controls and Nav system interface. It is true that you can have satellite or iPod but not both with the Lexus adapter, but since I don't use satellite radio it wasn't much of a sacrifice to go with the adapter.
For more information on the iPod adapter, see http://www.lexus.com/models/RX/accessories...t_for_iPod.html