[dirtroad]

If the LNB that is on the dish now, looks the same as the one you described, and there is a Y-yolk for a second LNB, then probably yes, but you will require a SW21 for one receiver or a SW44 for multiple receivers.
See SW21 http://www.digitalhome.ca/forum/showthread.php?t=79112
and SW44 http://www.digitalhome.ca/forum/showthread.php?t=79117

 

[dirtroad]

Are you a current Bell subscriber because there are supports for you to do it all for you. see http://support.bell.ca/en-ON/TV/How_to_move_my_Bell_TV_to_my_new_home
Or there are other incentives if you are a new Bell user, like free install and other things.

 

[dirtroad]

My 1st suggestion would be if there are 2 coax running to dish now buy 4 short manufactured cables and mount the 2 SW21's on the dish and connect the 2nd LNB and you are ready to go.

Otherwise you will be spending more on the tools for compression fittings, etc.

I suggest you just read the articles, and decide how far you want to go on this, many people have many ways of coming up with similar, or acceptable results.

 

[dirtroad]

Crimp connectors were the industry standard at one time, and are fine indoors, and outdoors if you keep an eye on them for moisture issues.
See http://www.digitalhome.ca/forum/showthread.php?t=104308
for lots of ideas.
I have even used twist-on connectors outdoors and keep some as emergency repairs when I have no tools around.
Don't use any silicon sealant on connections as it has very corrosive properties to prevent mould from developing unless it is a type approved for electrical connections. Use a good electrical tape like scotch super 88 or something similar.