It can easily be done with a single button press. As Mike pointed out, it's simply a matter of creating the proper macro. As far as I know, there are two commands that you can use to reliably hide what is currently being recorded or buffered. The most obvious one is the "Tivo" button. The other one is a discrete command in the database that takes you straight to the "Now Playing" screen. Just insert either of these commands into your macro before the command that changes the input on your TV, and you should be good to go.