This announcement follows last week's award by the FA Premier League of 92 live matches per season to Sky and 46 live matches per season to Irish broadcaster Setanta for the three-year period starting in 2007/08.
The new agreement builds on the existing agreement between Sky and Setanta under which commercial customers receive Setanta's live coverage of the Scottish Premier League as part of their Sky subscription.
Richard Freudenstein, Sky's chief operating officer, said: "This is good news for Sky customers - both commercial and residential.
"We're pleased to have been able to reach agreement with Setanta to ensure that Setanta's Premiership coverage will be available on the satellite platform."
Sky and Setanta have also reached an agreement in principle under which Setanta's Premiership coverage will also be available to residential customers on the digital satellite platform.
Trevor East, Setanta's director of sports, said, "Setanta's strategy is to make our programming services available on all platforms.
"We're delighted to have agreed a deal with Sky that will give us access to all Sky homes, as well as distribution to their pubs and clubs, for both the FA Premier League and the Scottish Premier League."