Volume Spike Investor

Sirius Satellite Radio (NASDAQ:SIRI) and XM Satellite Radio (NASDAQ: XMSR) are reversing their earlier losses and headed back up.  Reports from Reuters, DealReporter, and the WSJ are all claiming that the 2-2 deadlock is going to be broken with the final vote coming FOR the merger.  Until you have a press release from the FCC or from Sirius or XM be advised that should be treated as a “rumor-lite” but it is one which is starting to be widely reported.

As of 2″25 PM EST XM shares are up a sharp 10% at $10.03 on almost 15,000,000 shares and Sirius shares are up over 3% at $2.46 on over 36 million shares.

Hopefully after 18 months, we’ll finally get to put this sage to bed.

Jon Ogg

July 23, 2008