Band nothing like Status Quo (5)

I believe the answer is:

oasis

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'band' is the definition.
(British band)

'nothing like status quo' is the wordplay.
'nothing' becomes 'O' (O resembles 0).
'like' becomes 'as'.
'status quo' becomes 'is' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'o'+'as'+'is'='OASIS'

Can you help me to learn more?

(Other definitions for oasis that I've seen before include "Desert refuge" , "quiet spot" , "Pop group" , "Green area in desert" , "Safe haven" .)

I've seen this clue in The Times and The Sunday Times.

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