Exhibit 99.1

SiriusXM Reports First Quarter 2011 Results

	•		Subscribers Reach New High of 20.6 Million; 373,000 Net Subscriber Additions in First Quarter
	•		Revenue of $724 Million, Up 9% Over First Quarter 2010
	•		Record Adjusted EBITDA of $181 Million, Up 15% Over First Quarter 2010
	•		Free Cash Flow Improves $110 Million Year-Over-Year

NEW YORK – May 3, 2011 – Sirius XM Radio (NASDAQ: SIRI) today announced first quarter 2011 results, including revenue of $724 million, up 9% over first quarter 2010 revenue of $664 million, and adjusted EBITDA of $181 million, up 15% from $158 million in the first quarter of 2010.

“SiriusXM’s first quarter results have put us on track to attain our full year goals for subscriber, revenue, and adjusted EBITDA growth. Significantly, we are now in a position to raise our free cash flow estimate for the year,” said Mel Karmazin, Chief Executive Officer, SiriusXM. “Consumers are buying cars again and demand for our product is strong. Were it not for the OEM supply chain uncertainty resulting from the tragedy in Japan, we would be in a position to raise our subscriber guidance today.”

Other highlights from the quarter include:

•

Subscriber growth accelerates. Strong auto sales drove net subscriber additions in the first quarter of 2011 to 373,064, up 118% from 171,441 in the first quarter of 2010. Ending subscribers as of March 31, 2011 were 20,564,028, up 9% from the 18,944,199 subscribers reported as of March 31, 2010.

•

SAC improves. Subscriber acquisition cost (SAC) per gross subscriber addition was $57 in the first quarter of 2011, a 3% improvement from the $59 reported in the first quarter of 2010.

•

Churn stable. Average self-pay monthly customer churn was 2.0% in the first quarter 2011, in-line with the first quarter 2010 monthly average of 2.0%.

“We operate in a highly competitive audio entertainment marketplace, where there are more choices than ever before, yet consumers continue to choose SiriusXM. We continue to invest in content, expand distribution and improve our technology to deliver

the most compelling value proposition possible to consumers across the country,” Karmazin added.

Free cash flow in the first quarter of 2011 was ($17) million, a $110 million improvement from the ($127) million recorded in the first quarter 2010. These improvements were driven by declines in satellite capital expenditures and improved adjusted EBITDA. Net income in the first quarters of 2011 and 2010 was $78 million and $42 million, respectively, or $0.01 per diluted share in each period.

“We ended the first quarter with $434 million of cash and cash equivalents after deploying approximately $135 million to repurchase debt. In April, we repurchased approximately $74 million of our 3.25% Convertible Notes due 2011 via a cash tender offer,” said David Frear, SiriusXM’s Executive Vice President and Chief Financial Officer. “We continue to make progress toward reaching our leverage target. Our net debt to adjusted EBITDA declined to 4.1x at the end of the first quarter of 2011 from 6.6x at the end of the first quarter of 2010.”

The discussion of adjusted EBITDA excludes the effects of stock-based compensation and certain purchase price accounting adjustments. A reconciliation of non-GAAP items to their nearest GAAP equivalent is contained in the financial supplements included with this release.

2011 GUIDANCE

In 2011, we continue to expect full-year revenue of approximately $3 billion. Our adjusted EBITDA projection remains at approximately $715 million. Full year self-pay churn and conversion rates for 2011 should be broadly similar to those seen in 2010, and we continue to expect to grow our net new subscribers by 1.4 million in 2011. Free cash flow in 2011 should approach $350 million as compared to previous guidance for free cash flow approaching $300 million.

FIRST QUARTER 2011 RESULTS

     Subscriber Data.

     The following table contains actual subscriber data for the three months ended March 31, 2011 and 2010, respectively:

		Unaudited
		For the Three Months Ended March 31,
		2011				2010
Beginning subscribers			20,190,964				18,772,758
Gross subscriber additions			2,052,367				1,720,848
Deactivated subscribers			(1,679,303	)			(1,549,407	)
Net additions			373,064				171,441
Ending subscribers			20,564,028				18,944,199
Self-pay			16,807,643				15,773,671
Paid promotional			3,756,385				3,170,528
Ending subscribers			20,564,028				18,944,199
Self-pay			120,844				69,739
Paid promotional			252,220				101,702
Net additions			373,064				171,441
Daily weighted average number of subscribers			20,233,144				18,783,263
Average self-pay monthly churn (1)			2.0	%			2.0	%
Conversion rate (2)			44.7	%			45.2	%

See accompanying footnotes.

     Subscribers. The improvement was due to the 19% increase in gross subscriber additions, primarily resulting from an increase in U.S. light vehicle sales, new vehicle penetration and returning activations.

     Average Self-pay Monthly Churn. While churn remained flat, changes in vehicle ownership were offset by reductions in non-pay cancellation rates.

     Conversion Rate. The decrease was primarily due to changing mix of sales among auto manufacturers.

     Metrics.

     The following table contains our key operating metrics based on our unaudited adjusted results of operations for the three months ended March 31, 2011 and 2010, respectively:

		Unaudited Adjusted
		For the Three Months Ended March 31,
(in thousands, except for per subscriber amounts)		2011				2010
ARPU (3)		$	11.52			$	11.48
SAC, per gross subscriber addition (4)		$	57			$	59
Customer service and billing expenses, per average subscriber (5)		$	1.08			$	0.99
Free cash flow (6)		$	(16,874	)		$	(127,203	)
Adjusted total revenue (8)		$	727,561			$	670,563
Adjusted EBITDA (7)		$	181,359			$	157,757

See accompanying footnotes.

     ARPU increased by $0.04, primarily driven by an increase in sales of premium services, including “Best of” programming, data services and streaming and an increase in other revenue due to additional subscribers subject to the U.S. Music Royalty Fee, partially offset by an increase in subscriber retention programs and in the number of subscribers on promotional plans.

     SAC, Per Gross Subscriber Addition, decreased primarily due to a 19% increase in gross subscribers, lower per radio subsidy rates for certain OEMs and growth in subscriber reactivations and royalties from radio manufacturers, partially offset by an increase in OEM production with factory-installed satellite radios compared to the three months ended March 31, 2010.

     Customer Service and Billing Expenses, Per Average Subscriber, increased primarily due to higher call volume and handle time per call, an increase to bad debt expense driven by an alignment of policies and personnel costs, partially offset by lower general operating costs.

     Free Cash Flow increased principally as a result of improvements in net cash provided by operating activities and decreases in capital expenditures. Net cash provided by operating activities increased $56 million to $18 million for the three months ended March 31, 2011, compared to the ($38 million) used in operations for the three months ended March 31, 2010. Capital expenditures for property and equipment for the three months ended March 31, 2011 decreased $64 million to $35 million, compared to $99 million for the three months ended March 31, 2010. The increase in net cash

provided by operating activities was primarily the result of higher collections of amounts due from subscribers, the timing of interest payments on our debt, and the early repayment in the first quarter of 2010 of liabilities deferred in 2009 that were scheduled to be repaid, at 15% interest, in monthly installments from April 2010 through March 2011. The decrease in capital expenditures for the three months ended March 31, 2011 was primarily the result of decreased satellite construction and launch expenditures due to the launch in the fourth quarter of 2010 of our XM-5 satellite.

     Adjusted Total Revenue. Set forth below are our adjusted total revenue for the three months ended March 31, 2011 and 2010, respectively. Our adjusted total revenue includes the recognition of deferred subscriber revenues acquired in the merger between SIRIUS and XM (the “Merger”) that are not recognized in our results under purchase price accounting and the elimination of the benefit in earnings from deferred revenue associated with our investment in XM Canada acquired in the Merger.

		Unaudited
		For the Three Months Ended March 31,
(in thousands)		2011				2010
Revenue:
Subscriber revenue, including effects of rebates (GAAP)		$	622,437			$	579,509
Advertising revenue, net of agency fees (GAAP)			16,558				14,527
Equipment revenue (GAAP)			15,867				14,283
Other revenue (GAAP)			68,977				55,465
Total revenue (GAAP)			723,839				663,784
Purchase price accounting adjustments:
Subscriber revenue			1,909				4,966
Other revenue			1,813				1,813
Adjusted total revenue		$	727,561			$	670,563

For the three months ended March 31, 2011, the increase in subscriber revenue was primarily attributable to a 8% increase in daily weighted average subscribers, an increase in sales of premium services, including “Best of” programming, data services and streaming. The increase in other revenue was driven by additional subscribers subject to the U.S. Music Royalty Fee and increased royalty revenue from Sirius Canada.

     Adjusted EBITDA. EBITDA is defined as net income (loss) before interest and investment income (loss); interest expense, net of amounts capitalized; income tax expense and depreciation and amortization. Adjusted EBITDA removes the impact of other income and expense, losses on extinguishment of debt as well as certain other charges, such as, goodwill impairment; certain purchase price accounting adjustments and share-based payment expense.

		Unaudited Adjusted
		For the Three Months Ended March 31,
(in thousands)		2011				2010
Total revenue		$	727,561			$	670,563
Operating expenses:
Revenue share and royalties			136,862				123,539
Programming and content			83,273				90,471
Customer service and billing			65,487				55,577
Satellite and transmission			18,232				19,389
Cost of equipment			6,405				7,919
Subscriber acquisition costs			126,926				107,045
Sales and marketing			49,156				49,942
Engineering, design and development			10,024				9,826
General and administrative			49,837				49,098
Total operating expenses			546,202				512,806
Adjusted EBITDA		$	181,359			$	157,757

For the three months ended March 31, 2011, the increase in adjusted EBITDA was primarily due to an increase of 9%, or $57 million, in adjusted revenues, partially offset by an increase of 7%, or $33 million, in expenses included in adjusted EBITDA. The increase in revenue was primarily due to the increase in our subscriber base and by additional subscribers subject to the U.S. Music Royalty Fee. The increase in expenses was primarily driven by higher subscriber acquisition costs related to the 19% increase in gross additions, higher revenue share and royalties expenses associated with growth in revenues subject to revenue sharing and royalty arrangements, and increased customer service and billing expenses associated with subscriber growth, partially offset by lower programming and content costs.

CONSOLIDATED STATEMENTS OF OPERATIONS

		Unaudited Actual
		For the Three Months
		Ended March 31,
(in thousands, except per share data)		2011				2010
Revenue:
Subscriber revenue		$	622,437			$	579,509
Advertising revenue, net of agency fees			16,558				14,527
Equipment revenue			15,867				14,283
Other revenue			68,977				55,465
Total revenue			723,839				663,784
Operating expenses:
Cost of services:
Revenue share and royalties			106,929				98,184
Programming and content			72,959				78,434
Customer service and billing			65,836				56,211
Satellite and transmission			18,560				20,119
Cost of equipment			6,405				7,919
Subscriber acquisition costs			105,270				89,379
Sales and marketing			47,819				49,117
Engineering, design and development			11,135				11,436
General and administrative			56,354				57,580
Depreciation and amortization			68,400				70,265
Total operating expenses			559,667				538,644
Income from operations			164,172				125,140
Other income (expense):
Interest expense, net of amounts capitalized			(78,218	)			(77,868	)
Loss on extinguishment of debt and credit facilities, net			(5,994	)			(2,450	)
Interest and investment loss			(1,884	)			(3,270	)
Other income			1,617				1,213
Total other expense			(84,479	)			(82,375	)
Income before income taxes			79,693				42,765
Income tax expense			(1,572	)			(1,167	)
Net income		$	78,121			$	41,598
Net income per common share:
Basic		$	0.02			$	0.01
Diluted		$	0.01			$	0.01
Weighted average common shares outstanding:
Basic			3,735,136				3,677,897
Diluted			6,481,384				6,335,114

SIRIUS XM RADIO INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

		March 31, 2011				December 31, 2010
(in thousands, except share and per share data)		(unaudited)
ASSETS
Current assets:
Cash and cash equivalents		$	433,695			$	586,691
Accounts receivable, net			100,744				121,658
Receivables from distributors			76,558				67,576
Inventory, net			29,248				21,918
Prepaid expenses			175,829				134,994
Related party current assets			5,943				6,719
Deferred tax asset			52,254				44,787
Other current assets			4,243				7,432
Total current assets			878,514				991,775
Property and equipment, net			1,744,539				1,761,274
Long-term restricted investments			3,396				3,396
Deferred financing fees, net			50,954				54,135
Intangible assets, net			2,617,385				2,632,688
Goodwill			1,834,856				1,834,856
Related party long-term assets			32,444				30,162
Other long-term assets			67,332				74,800
Total assets		$	7,229,420			$	7,383,086
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses		$	483,530			$	593,174
Accrued interest			80,577				72,453
Current portion of deferred revenue			1,252,144				1,201,346
Current portion of deferred credit on executory contracts			278,063				271,076
Current maturities of long-term debt			100,603				195,815
Related party current liabilities			16,583				15,845
Total current liabilities			2,211,500				2,349,709
Deferred revenue			263,230				273,973
Deferred credit on executory contracts			433,456				508,012
Long-term debt			2,666,202				2,695,856
Long-term related party debt			326,589				325,907
Deferred tax liability			923,272				914,637
Related party long-term liabilities			23,823				24,517
Other long-term liabilities			82,722				82,839
Total liabilities			6,930,794				7,175,450
Commitments and contingencies
Stockholders’ equity:
Preferred stock, par value $0.001; 50,000,000 authorized at March 31, 2011 and December 31, 2010: Series A convertible preferred stock ; no shares issued and outstanding at March 31, 2011 and December 31, 2010			—				—
Convertible perpetual preferred stock, series B-1 (liquidation preference of $13 at March 31, 2011 and December 31, 2010); 12,500,000 shares issued and outstanding at March 31, 2011 and December 31, 2010			13				13
Convertible preferred stock, series C junior; no shares issued and outstanding at March 31, 2011 and December 31, 2010			—				—
Common stock, par value $0.001; 9,000,000,000 shares authorized at March 31, 2011 and December 31, 2010; 3,943,060,217 and 3,933,195,112 shares issued and outstanding at March 31, 2011 and December 31, 2010			3,943				3,933
Accumulated other comprehensive loss, net of tax			(5,794	)			(5,861	)
Additional paid-in capital			10,433,396				10,420,604
Accumulated deficit			(10,132,932	)			(10,211,053	)
Total stockholders’ equity			298,626				207,636
Total liabilities and stockholders’ equity		$	7,229,420			$	7,383,086

SIRIUS XM RADIO INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

		Unaudited Actual
		For the Three Months Ended March 31,
(in thousands)		2011				2010
Cash flows from operating activities:
Net income		$	78,121			$	41,598
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization			68,400				70,265
Non-cash interest expense, net of amortization of premium			9,573				11,119
Provision for doubtful accounts			9,623				7,502
Amortization of deferred income related to equity method investment			(694	)			(2,194	)
Loss on extinguishment of debt and credit facilities, net			5,994				2,450
Loss on investments, net			2,350				2,729
Loss on disposal of assets			266				—
Share-based payment expense			12,856				17,182
Deferred income taxes			1,111				1,167
Other non-cash purchase price adjustments			(66,743	)			(58,817	)
Changes in operating assets and liabilities:
Accounts receivable			11,291				(9,792	)
Receivables from distributors			(8,982	)			(6,037	)
Inventory			(7,330	)			2,225
Related party assets			(3,686	)			1,285
Prepaid expenses and other current assets			(39,232	)			(14,690	)
Long-term restricted investments			—				(10,160	)
Other long-term assets			7,617				7,876
Accounts payable and accrued expenses			(110,400	)			(115,469	)
Accrued interest			8,124				(11,373	)
Deferred revenue			39,225				81,034
Related party liabilities			738				(57,207	)
Other long-term liabilities			(113	)			1,619
Net cash provided by (used in) operating activities			18,109				(37,688	)
Cash flows from investing activities:
Additions to property and equipment			(34,983	)			(98,965	)
Sale of restricted and other investments			—				9,450
Net cash used in investing activities			(34,983	)			(89,515	)
Cash flows from financing activities:
Proceeds from exercise of warrants and stock options			1,072				—
Long-term borrowings, net of costs			—				637,406
Related party long-term borrowings, net of costs			—				147,094
Payment of premiums on redemption of debt			(4,094	)			—
Repayment of long-term borrowings			(133,100	)			(248,183	)
Restricted cash used for the redemption of debt			—				(524,065	)
Net cash (used in) provided by financing activities			(136,122	)			12,252
Net decrease in cash and cash equivalents			(152,996	)			(114,951	)
Cash and cash equivalents at beginning of period			586,691				383,489
Cash and cash equivalents at end of period		$	433,695			$	268,538

Footnotes

		Unaudited
		For the Three Months Ended March 31,
		2011				2010
Subscriber revenue (GAAP)		$	622,437			$	579,509
Add: net advertising revenue (GAAP)			16,558				14,527
Add: other subscription-related revenue (GAAP)			58,531				47,947
Add: purchase price accounting adjustments			1,909				4,966
		$	699,435			$	646,949
Daily weighted average number of subscribers			20,233,144				18,783,263
ARPU		$	11.52			$	11.48

		Unaudited
		For the Three Months Ended March 31,
		2011				2010
Subscriber acquisition costs (GAAP)		$	105,270			$	89,379
Less: margin from direct sales of radios and accessories (GAAP)			(9,462	)			(6,364	)
Add: purchase price accounting adjustments			21,656				17,666
		$	117,464			$	100,681
Gross subscriber additions			2,052,367				1,720,848
SAC, per gross subscriber addition		$	57			$	59

		Unaudited
		For the Three Months Ended March 31,
		2011				2010
Customer service and billing expenses (GAAP)		$	65,836			$	56,211
Less: share-based payment expense, net of purchase price accounting adjustments			(367	)			(728	)
Add: purchase price accounting adjustments			18				94
		$	65,487			$	55,577
Daily weighted average number of subscribers			20,233,144				18,783,263
Customer service and billing expenses, per average subscriber		$	1.08			$	0.99

		Unaudited
		For the Three Months Ended March 31,
		2011				2010
Net cash provided by (used in) operating activities		$	18,109			$	(37,688	)
Additions to property and equipment			(34,983	)			(98,965	)
Restricted and other investment activity			—				9,450
Free cash flow		$	(16,874	)		$	(127,203	)

Adjusted EBITDA has certain limitations in that it does not take into account the impact to our statement of operations of certain expenses, including share-based payment expense and certain purchase price accounting for the Merger. We endeavor to compensate for the limitations of the Non-GAAP measure presented by also providing the comparable GAAP measure with equal or greater prominence and descriptions of the reconciling items, including quantifying such items, to derive the Non-GAAP measure. Investors that wish to compare and evaluate our operating results after giving effect for these costs, should refer to net income (loss) as disclosed in our consolidated statements of operations. Since adjusted EBITDA is a Non-GAAP financial performance measure, our calculation of adjusted EBITDA may be susceptible to varying calculations; may not be comparable to other similarly titled measures of other companies; and should not be considered in isolation, as a substitute for, or superior to measures of financial performance prepared in accordance with GAAP. The reconciliation of net income (loss) to the adjusted EBITDA is calculated as follows (in thousands):

		Unaudited
		For the Three Months Ended March 31,
		2011				2010
Net income (GAAP):		$	78,121			$	41,598
Add back items excluded from Adjusted EBITDA:
Purchase price accounting adjustments:
Revenues			3,722				6,779
Operating expenses			(67,972	)			(62,610	)
Share-based payment expense, net of purchase price accounting adjustments			13,037				18,183
Depreciation and amortization (GAAP)			68,400				70,265
Interest expense, net of amounts capitalized (GAAP)			78,218				77,868
Loss on extinguishment of debt and credit facilities, net (GAAP)			5,994				2,450
Interest and investment loss (GAAP)			1,884				3,270
Other income (GAAP)			(1,617	)			(1,213	)
Income tax expense (GAAP)			1,572				1,167
Adjusted EBITDA		$	181,359			$	157,757

(8)

The following tables reconcile our actual revenues and operating expenses to our adjusted revenues and operating expenses for the three months ended March 31, 2011 and 2010:

		Unaudited For the Three Months Ended March 31, 2011
						Purchase Price				Allocation of
						Accounting				Share-based
(in thousands)		As Reported				Adjustments				Payment Expense				Adjusted
Revenue:
Subscriber revenue, including effects of rebates		$	622,437			$	1,909			$	—			$	624,346
Advertising revenue, net of agency fees			16,558				—				—				16,558
Equipment revenue			15,867				—				—				15,867
Other revenue			68,977				1,813				—				70,790
Total revenue		$	723,839			$	3,722			$	—			$	727,561
Operating expenses
Cost of services:
Revenue share and royalties			106,929				29,933				—				136,862
Programming and content			72,959				12,824				(2,510	)			83,273
Customer service and billing			65,836				18				(367	)			65,487
Satellite and transmission			18,560				239				(567	)			18,232
Cost of equipment			6,405				—				—				6,405
Subscriber acquisition costs			105,270				21,656				—				126,926
Sales and marketing			47,819				3,212				(1,875	)			49,156
Engineering, design and development			11,135				31				(1,142	)			10,024
General and administrative			56,354				59				(6,576	)			49,837
Depreciation and amortization (a)			68,400				—				—				68,400
Share-based payment expense (b)			—				—				13,037				13,037
Total operating expenses		$	559,667			$	67,972			$	—			$	627,639

Programming and content		$	2,483			$	27			$	—			$	2,510
Customer service and billing			349				18				—				367
Satellite and transmission			548				19				—				567
Sales and marketing			1,848				27				—				1,875
Engineering, design and development			1,111				31				—				1,142
General and administrative			6,517				59				—				6,576
Total share-based payment expense		$	12,856			$	181			$	—			$	13,037

		Unaudited For the Three Months Ended March 31, 2010
						Purchase Price				Allocation of
						Accounting				Share-based
(in thousands)		As Reported				Adjustments				Payment Expense				Adjusted
Revenue:
Subscriber revenue, including effects of rebates		$	579,509			$	4,966			$	—			$	584,475
Advertising revenue, net of agency fees			14,527				—				—				14,527
Equipment revenue			14,283				—				—				14,283
Other revenue			55,465				1,813				—				57,278
Total revenue		$	663,784			$	6,779			$	—			$	670,563
Operating expenses
Cost of services:
Revenue share and royalties			98,184				25,355				—				123,539
Programming and content			78,434				15,147				(3,110	)			90,471
Customer service and billing			56,211				94				(728	)			55,577
Satellite and transmission			20,119				323				(1,053	)			19,389
Cost of equipment			7,919				—				—				7,919
Subscriber acquisition costs			89,379				17,666				—				107,045
Sales and marketing			49,117				3,525				(2,700	)			49,942
Engineering, design and development			11,436				186				(1,796	)			9,826
General and administrative			57,580				314				(8,796	)			49,098
Depreciation and amortization (a)			70,265				—				—				70,265
Share-based payment expense(b)			—				—				18,183				18,183
Total operating expenses		$	538,644			$	62,610			$	—			$	601,254

Programming and content		$	2,950			$	160			$	—			$	3,110
Customer service and billing			634				94				—				728
Satellite and transmission			951				102				—				1,053
Sales and marketing			2,555				145				—				2,700
Engineering, design and development			1,610				186				—				1,796
General and administrative			8,482				314				—				8,796
Total share-based payment expense		$	17,182			$	1,001			$	—			$	18,183

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About Sirius XM Radio

Sirius XM Radio is America’s satellite radio company. SiriusXM broadcasts more than 135 satellite radio channels of commercial-free music, and premier sports, news, talk, entertainment, traffic, weather, and data services to 20.6 million subscribers. SiriusXM offers an array of content from many of the biggest names in entertainment, as well as from professional sports leagues, major colleges, and national news and talk providers.

SiriusXM programming is available on more than 800 devices, including pre-installed and after-market radios in cars, trucks, boats and aircraft, smartphones and mobile devices, and consumer electronics products for homes and offices. SiriusXM programming is also available at siriusxm.com, and on Apple, BlackBerry and Android-powered mobile devices.

SiriusXM has arrangements with every major automaker and its radio products are available for sale at shop.siriusxm.com as well as retail locations nationwide.

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results may differ materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statement: our competitive position versus other forms of audio and video entertainment; our ability to retain subscribers and maintain our average monthly revenue per subscriber; our dependence upon automakers and other third parties; our substantial indebtedness; and the useful life of our satellites, which, in most cases, are not insured. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2010, which is filed with the Securities and Exchange Commission (the “SEC”) and available at the SEC’s Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.

Follow SiriusXM on Twitter or like the SiriusXM page on Facebook.

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Contact Information for Investors and Financial Media:

Investors:

Hooper Stevens
212 901 6718
hooper.stevens@siriusxm.com

Media:

Patrick Reilly
212 901 6646
patrick.reilly@siriusxm.com