Ridiculous as it sounds, in the modern day of conference realignment it really isnt that far off base. Geography is only a secondary concern now, it's all about revenue stream and Texas has alot of it. Believe it or not, the Big Ten would be a upgrade for Texas revenue wise because of the TV contracts they have.
With the PAC 10 possible expansion, i think you can go ahead and throw out Boise State, yes they are the darling BCS busters in football but the rest of their sports programs are pretty non existent. BYU would seem like a good fit along with Utah with Fresno State being a darkhorse.
If the Big 10 and PAC 10 both plunder the Big 12, that league could be in some serious trouble.