The '08 Code saved you the trouble of looking at the UL listing:
338.12 Uses Not Permitted.
(A) Service-Entrance Cable. Service-entrance cable (SE) shall not be used under the following conditions or in the following locations:
(1) Where subject to physical damage unless protected in accordance with 230.50(A)
(2) Underground with or without a raceway
(3) For exterior branch circuits and feeder wiring unless the installation complies with the provisions of Part I of Article 225 and is supported in accordance with 334.30 or is used as messenger-supported wiring as permitted in Part II of Article 396