It's been done
I wonder if Private is looking to make a sequel to The Uranus Experiment, which used a Russian Vomit Comet for the climactic scenes. To the best of my knowledge it is the only movie to date to feature actual microgravity money shots, though of course Girls Gone Wild has a short segment on a vomit comet (again, Russian I think) on their "Ultimate Rush" video.
There are other erotic films set in space, but it is a genre that is largely unrepresented in the adult-only film industry. Of course, with proclamations like this I can see where folks would get discouraged from producing content for that particular niche.
