There is a 90% chance it won't be though I'd love to be proved wrong, if it is I'll be down the pub hassling them to put it on.
Starts are supposed to be around 8pm our time (I think - 10am Valencia time), the better places to find info will be Sailing Anarchy or the AC 33 site both of which should have links to live feeds.
For the curious sailing is slatted for the 8th, 10th and 12th inorder to have laydays in between - probably to fix the boats (or maybe the tenders from trying to keep up)
Edit just fond this on the AC site - http://www.americascup.com/en/regate/stay-connected/follow-the-races-49-936
According to a recent post on Sailing Anarchy: "Foxtel will be carrying live coverage of the AC races from VLC. Race 1 is on Foxsports 3 @7pm and races 2&3 are on Eurosports @7.30 Eastern."