Hi Shawn. A day/night cycle is not necessary for ball pythons. Damien is right, the ambient light from the room will be sufficient, and bright light can stress out BPs since they are naturally nocturnal. If you need to use a lamp in addition to your heat pad, use an infrared bulb. The light will not bother the snake, and you'll be able to observe your snake even when the rest of the room is dark.

As for the placement of the tank in the living room, snakes can't "hear" the way we do, but they do perceive vibration from sound. The sound of your TV or stereo shouldn't bother it as long as they're not played at outrageous levels. If you plan on any big house parties, move the snake to a quieter place in the house, otherwise, it should be fine.