Satellite phone? Terrific (7)
I believe the answer is:
telstar
'satellite' is the definition.
(US satellite programme)
'phone? terrific' is the wordplay.
'phone?' becomes 'tel' (short for telephone).
'terrific' becomes 'star' (I can't justify this - if you can you should give a lot more credence to this answer).
'tel'+'star'='TELSTAR'
Can you help me to learn more?
(Other definitions for telstar that I've seen before include "Old satellite" , "Communication satellite" , "Distant transmitter" , "Early sixties satellite" , "Communications satellite" .)