The influence of the morphological structure on the phase behavior of a liquid crystalline side chain block copolymer has been investigated using SAXS, DSC, TEM, and low-angle electron diffraction. All samples of poly[styrene-block-2-((3-cholesteryloxycarbonyl)oxy)ethyl methacrylate] (PS-b-PChEMA) show a phase separation between the two blocks. An influence on the phase structure of the liquid crystalline subphase exerted by the morphological structure was observed. It was found that in the case of those samples where the liquid crystalline subphase is not continuous (spheres), only a nematic phase is seen, whereas in all samples in which there is a continuous liquid crystalline subphase, the smectic A phase of the homopolymer is formed.