A couple of things about Houston that give me pause...
1) Enrollment in 2010 surpassed 38,000 students. While a lot of them, granted, are probably commuters, a good number of them would probably at least have a passing interest should they get elevated to an AQ conference.
2) Now with A&M in the SEC, it seems like it would behoove us to elevate a school in their back yard. It would, hopefully, chomp into the coverage that A&M (and by proxy the SEC) would get. Also, it would still firmly mean that the Big 12 is the conference in Texas.
3) They're also planning on dumping $160 million in facilities upgrades to make them much more competitive in the current environment. The football stadium would expand to 40k (with 50k capacity, but I'm sure we could demand a 50k minimum and they'd do it). If we give them a cash infusion from our TV deals, I think they could really take hold.
4) Also, if Wilner is correct, and the sentiment is that we really do want to go back to twelve, it would make North and South divisions much more likely.