SIRIUS XM Radio announced that it has been informed by NASDAQ that it is in compliance with all NASDAQ listing standards, including the minimum bid price requirement. Accordingly, the hearing, formerly scheduled for April 29, 2010, before a NASDAQ Listing Qualifications Panel to review the Company’s compliance with the minimum bid price rule has been cancelled. NASDAQ has advised SIRIUS XM that it will remain listed on The NASDAQ Global Select Market.

SIRIUS XM also confirmed that, given the NASDAQ compliance determination, its board of directors will not need to consider a reverse stock split.

In another press release released today Sirius XM announced that it plans to release first quarter 2010 financial and operating results on Tuesday, May 4, 2010.

SIRIUS XM will hold a conference call at 8:00 am ET on Tuesday, May 4, 2010 to discuss these results. Investors and the press can listen to the conference call via the company’s website, www.sirius.com and on its satellite radio service by tuning to SIRIUS channel 126 or XM channel 90.

A replay of the call will be available on www.sirius.com.

Sirius XM stock closed today at 1.14

SIRIUS XM announced that The NASDAQ Stock Market has scheduled a hearing on April 29, 2010, at which the Company will be afforded the opportunity to request continued listing on The NASDAQ Global Select Market pending its return to compliance with NASDAQ’s $1.00 per share bid price requirement.

The hearing before a NASDAQ Listing Qualifications Panel stays all action by NASDAQ. Under NASDAQ’s current Listing Rules, the Panel may grant the Company up to an additional 180 days from the date of the staff’s most recent notification of non-compliance, or through September 13, 2010, to comply with the NASDAQ bid price requirement. The Company does not expect to receive a written decision of the Panel for up to 45 days following the hearing.

The Company intends to take all necessary steps to maintain the listing of its common stock on The NASDAQ Global Select Market. The Company’s stockholders have granted the Company’s board of directors the discretion to effect a reverse stock split, which would bring the Company into compliance with the NASDAQ bid price requirement. While the authority granted to the board expires on June 30, 2010, the Company will seek approval from stockholders at its upcoming annual meeting to extend that authority through June 30, 2011. The board of directors intends to effect the reverse stock split only if it determines the action to be in the best interests of stockholders.

Just over two weeks after breaking the $1.00 mark Sirius Xm Radio announced that it has received a letter from the staff of The NASDAQ Stock Market stating that the Company has not regained compliance with the $1.00 minimum closing bid price requirement for continued listing on The NASDAQ Global Select Market under NASDAQ Listing Rule 5450. The Company will request a hearing before a NASDAQ Listing Qualifications Panel at which it will ask for continued listing on NASDAQ pending its return to compliance. As a result, the NASDAQ staff’s letter has no effect on the listing of SIRIUS XM’s common stock at this time.

“SIRIUS XM is one of the most liquid securities on The NASDAQ Global Select Market; we have a large investor base consisting of both individual and prominent institutional stockholders; and our equity capitalization is greater than approximately 92% of the companies listed on The NASDAQ Global Select Market. We are committed to remaining listed on The NASDAQ Global Select Market,” said Mel Karmazin, Chief Executive Officer of SIRIUS XM.

SIRIUS XM has an equity capitalization of over $5.8 billion and an enterprise value of nearly $8.8 billion. In 2009, the Company had revenue of over $2.5 billion. Over 3.7 billion shares of the Company’s common stock are available in the public float.

In addition, the NASDAQ OMX Group, Inc. has announced that the Company’s common stock will be added to the NASDAQ Q-50 Index effective with the market open on Monday, March 22, 2010. The Q-50 Index is designed to track the performance of the fifty securities that are next in line to replace the securities currently included in the NASDAQ-100 Index.

The Company intends to take all necessary steps to maintain the listing of its common stock on The NASDAQ Global Select Market. The Company’s stockholders have granted the Company’s board of directors the discretion to effect a reverse stock split, which would bring the Company into compliance with the NASDAQ bid price requirement. However, the board of directors intends to effect the reverse stock split only if it determines the action to be in the best interests of stockholders.

Under NASDAQ’s current Listing Rules, the Panel may grant the Company up to an additional 180 days from the date of the staff’s letter, or through September 13, 2010, to comply with the NASDAQ bid price requirement.

SIRIUS XM Radio announced today that it received notice from the Nasdaq Stock Market on September 15, 2009 that its common stock had closed below $1.00 per share for 30 consecutive business days and is therefore not in compliance with the Nasdaq Marketplace Rule 5450(a)(1). In accordance with Marketplace Rule 5810(c)(3)(A), SIRIUS XM may regain compliance if at any time by March 15, 2010 its common stock closes at or above $1.00 for 10 consecutive business days.

The Company intends to maintain the listing of its common stock on Nasdaq and will consider available options if its common stock does not trade at a level likely to result in compliance with Nasdaq’s minimum bid price requirement by March 15, 2010. This notification was expected given the reinstitution of Nasdaq Marketplace Rule 5450(a)(1) on August 3, 2009 and has no effect on the listing of SIRIUS XM’s common stock at this time.

In May 2009, the Company’s stockholders approved an amendment to its certificate of incorporation to effect a reverse stock split at a ratio of not less than one-for-ten and not more than one-for-fifty. The Company’s board of directors has authority to select an exchange ratio within the approved range at any time prior to June 30, 2010. The board of directors intends to effect the reverse stock split only if it determines the reverse split to be in the best interests of stockholders. Such a reverse split would put the company in compliance with the Nasdaq bid price requirement.