Averil, unfortunately this isn't correct. The John Looney who married Jane Cubbon very likely is the illegitimate son of Thomas Looney & Elinor Costean, bapt 24 Sep 1786 Lonan. Notice that the census entries all say he was born Lonan, at about that date. John had a brother Ishmael bapt 1791 by the same couple, and both were stonemasons in Ramsey. Their father likely was Thomas Looney of Ballamoore, bapt 8 Jul 1740 Lonan s/o Daniel Looney & Jane Kissack. He had been married to Ann Clague in Marown 1768, with 4 legitimate children. More discussion on this here, and nearby messages:
ht tp://www.isle-of-man.com/genealogy/messageboard/index.pl/md/read/id/557725

I don't know what happened to the John Looney b 1781.