Apparently, it was cancelled to make way for another spinoff - "Stargate Universe":
SciFi Greenlights STARGATE: UNIVERSE!! -- Ain't It Cool News: The best in movie, TV, DVD, and comic book news. Quote:
After unlocking the mystery of the Stargate's ninth chevron, a team of explorers travels to an unmanned starship called the Destiny, launched by The Ancients at the height of their civilization as a grand experiment set in motion, but never completed.
What starts as a simple reconnaissance turns into a never ending mission, as the Stargate Universe crew discovers the ship is unable to return to Earth, and they must now fend for themselves aboard the Destiny.
The crew will travel to the far reaches of the universe, connecting with each of the previously launched Stargates, thus fulfilling the Destiny's original mission.
Challenges will arise though as the ship comes into range of Stargates placed centuries ahead of the Destiny, but only for a brief period of time before carrying on with its pre-programmed navigational schedule. If someone is left behind, there is no way to go back for them, adding to the drama of encountering new races, enemies and adventures.
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Sounds like they've taken elements of "Stargate" and slammed them together with "Sliders" and "Quantum Leap". I guess we'll find out soon enough if it was worth it.
This article has some more details:
Sci Fi orders 'Stargate' spin-off--The Live Feed
It says they're trying to target a "younger audience" with the show, and that guest appearances from SG-1 and Atlantis characters is "very possible".