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SIRIUS XM Regains Compliance With NASDAQ/Will Announce First Quarter 2010 Results

sirius-xm-radio

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