The interaction between morphological structure and phase behaviour of a LC side group block copolymer has been investigated using DSC, TEM and small angle X-ray diffraction. All samples of Polystyrene-block-2-(3-cholesteryloxycarbonyloxy)ethyl methacrylate (PS-b-PChEMA) show a phase separation between the two blocks. It was found that in the case of those samples where the liquid crystalline sub-phase is not continuous (spheres), only a nematic phase is seen, whereas in all samples in which there is a continuous liquid crystalline sub-phase, the smectic A phase of the homopolymer is formed. On the other hand, the block copolymer seems to stabilize the LC phase; no dependency of the clearing temperatures on the molecular weight of the LC blocks has been observed.