After avoiding declaring bankruptcy last month, Sirius XM has announced plan to stream its subscription radio service to the iPhone and iPod touch this spring as part of the company's latest fiscal results conference call. The new app will let either Apple device receive Sirius or XM stations over their Internet connections without requiring a separate radio. Currently, Sirius has roughly 19 million subscribers, an improvement of about 10 percent from last year, but is being significantly slowed by plunging car sales and the absence of radios.
In addition to branching out to the iPhone and iPod touch, Sirius XM has also looked into opportunities to bundle its satellite radio with TV packages from DirecTV. Recently, DirecTV's controlling shareholder, Liberty Media Corp, helped Sirius XM avert bankruptcy by investing $530 million. In doing so, Liberty has provided loans for Sirius XM at 15 percent interest and taken a 40 percent stake in the satellite radio company.
The new Sirius XM satellite radio app for the iPhone and iPod touch is expected to have the same $13 monthly subscription fee as for those using satellite-only service.