It is physically impossible to reduce sat latency, you have to request the information and then it has to be sent. Both travel as radio waves at the speed of sound.
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Originally Posted by howstuffworks
Data, television, image and some telephone transmissions are routinely received and rebroadcast by communications satellites. Typical satellite telephone links have 550 to 650 milliseconds of round-trip delay that contribute to consumer dissatisfaction with this type of long-distance carrier. It takes the voice communications that long to travel all the way up to the satellite and back to Earth.
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http://electronics.howstuffworks.com/satellite7.htm
That latency + the latency of the ground based network would mean that you would be heading up towards 3/4 sec each way, for the request and the return to be by sat, that would be a 1.5s latency!