Some bad news today for the cable and satellite companies that have been pooh-poohing the possibility that millions of subscribers will cut the pay TV cord. Researchers at SNL Kagan — one of the most cable-friendly forecasting firms — say they expect 12.1 million homes in 2015 will receive TV shows and movies from Internet services such as Netflix instead of a traditional pay TV provider. That would represent 10% of all households and would be up dramatically from 2.5 million cord cutting homes at the end of 2010 and 4.5 million expected at the end of this year. Although cable and satellite companies still may add pay TV subscribers, SNL Kagan says that “the pace is not expected to keep up with occupied household formation.” About 86% of all homes subscribed to pay TV in 2009 and that dropped to 84.9% last year.