5G NB-IoT is seen as a key technology for providing truly ubiquitous, global 5G coverage (1.000.000 devices/km2) for machine type communications in the internet of things. A non-terrestrial network (NTN) variant of NB-IoT is being standardized in the 3GPP, which along with inexpensive and non-complex chip-sets enables the production of competitively priced IoT devices with truly global coverage. NB-IoT allows for narrowband single carrier transmissions in the uplink, which improves the uplink link-budget by as much as 16.8 dB over the 180 [kHz] downlink. This allows for a long range sufficient for ground to low earth orbit (LEO) communication without the need for complex and expensive antennas in the IoT devices. In this paper the feasibility of 5G NB-IoT in the context of low-density constellations of small-satellites carrying base-stations in LEO is analyzed and required adaptations to NB-IoT are discussed.