There is a long thread on OrangeBloods about this.
Actually, I'm somewhat torn on this topic. On one hand, I would hate to lose the OU-texas rivalry if we did go to the $EC. However, I just don't see OU going to the $EC becuase of our "package deal" with OSU and I can imagine the $EC is not interested in the Pokes. On the other hand, I would get to see OU play more as they would be coming to stadiums closer to the ATL area if OU was accepted into teh $EC.
In the long run, I just don't see it happening.
Don't rule out the package deal. OU is attractive enough that the SEC just might accept OSU as a travel partner. After all, the ACC implemented a media rights clause to replace their exit fees right after Maryland left for the Big Ten. So, the ACC owns the broadcast rights of their members, even if they leave. They did this specifically to prevent future defections and all of their members agreed to it. So, if the SEC were to expand, they'd need 2 teams and would be unlikely to get either of them from the ACC.
Meanwhile, Texas could be a non-starter because the LHN wouldn't co-exist very well with the SEC network. So, if expansion were to occur, it would probably be an OU +1 situation anyway, and if taking OSU is what would be required to land OU, it could happen. After all, think of how powerful the SEC would become in the state of Texas with the combo of A&M, OU, OSU, Arkansas, and even LSU. There would be a ton of regional pull among that group of teams.