From INSTALL.TXT:
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SnXM is not yet packaged for Maemo, so manual installation is required as follows:

• make sure PyQt is already installed
  
• download and unpack the archive somewhere in user-space (MyDocs, SD card or whatever): tar xvzf snxm.tgz
  
• go to the snxm folder created in that directory : cd snxm
  
• type sudo gainroot to become root in that folder (requires 'rootsh' package)
  
• run sh snxm.setup

This will create a two-line executable launcher (snxm) in /home/user, then copy the SnXM icon and .desktop file to the appropriate system folders.

From there on you should be able to add an SnXM icon to your desktop in the usual way.
Note: initially the icon appears as the default "blue square", I have not yet found a way to make it show up without rebooting.

For debugging purposes, you can also run 'snxm' from the home directory in xterm, python error messages will appear in the console.

Hint: if you have a DropBox account, you can make step 2 (download/unpack) and later upgrades easier by doing that in your DropBox space. Then install the excellent DropN900 on your device and synchronize to a MyDocs subfolder.