Practically speaking, the cheapest and easiest way to get into XM weather is to buy a Garmin 376. It's all integrated and ready to play: GPS chartplotter, XM Weather (overlaid on the chart display if you like), and even XM radio for music and news. Sells for around $995. Add to that the XM weather subscription cost, $30-$50/mo.
Garmin also has the GDL-30 weather data receiver, a black box that attaches to the 3006 or 3010 chartplotters via the Garmin Marine Network. As with the 376, weather data is overlaid on the chart displays. But you need to have a 3006 or 3010 to use this.
Other manufacturers are adding black boxes similar to Garmin's to their product lines. Raymarine has announced one that works with E series chartplotters, again via their network. It uses Sirius weather, XM's competitor. Lowrance is said to have something in the works too.
There are laptop based systems, but I won't mention them because they are finicky at I don't know anyone who has been really happy with one.
The Garmin 376 is presently the only box you can just turn on, subscribe to XM, and be up and running. Got to give them credit for that. The Garmin 396, same unit but for aviation, has been a huge hit with general aviation pilots because of it's features and weather integration.
There is another approach that isn't discussed much, but should be noted even though it's not satellite based. You can subscribe to mobile mycast, and get weather and nexrad weather radar displayed on your cell phone. It's not overlaid on charts of course, but it is overlaid on a basic map. The weather is basic, not marine oriented. But at $15-$20 a month, it's a lot less expensive than the XM weather subscription. Might be good enough depending on where and how you boat. See
www.mycast.com for details.