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Yesterday, Sirius XM Radio Inc. announced that it has priced an offering of $257,000,000 of Senior Secured Notes due 2015. The notes, which were offered pursuant to Rule 144A and Regulation S under the Securities Act of 1933, will bear interest at an annual rate of 9.75%. The price to investors will be 97.248% of the principal amount of the notes. The Company will receive gross proceeds of $249,927,360 from the sale of the notes before deducting the initial purchasers' commissions and estimated offering expenses. The Company will use the net proceeds from the offering to repay indebtedness incurred under its Credit Agreement with Liberty Media Corporation.

The stock is currently trading at $0.569 moved up about 5.35% on over 27 million shares.

About Sirius XM Radio Inc.

Sirius XM Radio Inc. has two principal wholly owned subsidiaries, XM Satellite Radio Holdings Inc. and Satellite CD Radio Inc. The Company is engaged in broadcasting in the United States, its music, sports, news, talk, entertainment, traffic and weather channels for a subscription fee through its satellite radio systems, the SIRIUS system and the XM system. On July 28, 2008, its wholly owned subsidiary, Vernon Merger Corporation, merged (the Merger) with and into XM Satellite Radio Holdings Inc. and, as a result, XM Satellite Radio Holdings Inc. became its wholly owned subsidiary.

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