No, the SRS TruSurround XT Technology only works with your TV's built-in onboard speakers, which is usually just two or three small little tiny speakers built into the back, side, or bottom of the television. The technology will be able to create a full home theater effect (usually only able to be created with a five to six speaker system setup) but instead reproducing that kind of sound only using the TV's built in speakers. You do not need any external equipment, product, or source needed to operate or enjoy this feature, so you can just go ahead and turn the SRS feature on from your TV's settings/menu, and the TV will automatically start processing and reproducing audio and sound using the built in TV speakers.
Lastly, say if you do decide to equip your television into a full home theater system sometime in the near future by adding more larger external speakers, louder sound and bass, an actual subwoofer, and an A/V receiver, then the SRS technology would not apply to that type of setup, as the television's built in onboard speakers would be turned off and not be into play and only the external speakers and subwoofer would be producing sound, and the A/V receiver would be responsible for creating all the sound effects and doing the mixing and sending sound signals to the speakers. So basically being said, the SRS technology is only applicable to the television's built in speakers and does not require external equipment to function when using TV speakers, but the SRS technology also doesn't enhance external sound sources.
Hope I helped and answered your question. Let me know if you need anything else, and have a great day.
Good luck with your TV watching and set up, all the best
Also, what brand and model is your television?