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Yes, that is correct, as you need the Mac App Store (MAS) to download Lion, and as the MAS only comes with 10.6.6, you need to buy the Mac OS X 10.6 Snow Leopard Upgrade DVD for 29 USD, then upgrade your Mac with it, upgrade via Software Update and download Lion via MAS.
You can then create a bootable installer, if you want.

Or you could just buy the Lion Installation USB flash memory thumb drive from the Apple Online Store for 69 USD.
 
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