Despite it's name the Sirloin Tip actually comes from the Round or the rump of the beef animal. Like most of the other muscles in the round (like the Eye of the Round, Top Round and Bottom Round) the Sirloin Tip is a lean muscle. Lean muscles generally benefit from a marinade or a slow wet roast process to keep the muscle fibers from drying out when cooking.
You can cube this roast as well and make your own beef stew or kabobs.