UPDATE 2-Sirius subscriptions improve in Q2; shares jump

* Sirius subscriptions improve in Q2 to “record high”

* Subscriber turnover declines

* Shares up 5.8 pct in early trading
(Adds analyst comment, share price)

NEW YORK, July 7 (BestGrowthStock) – Sirius XM Radio Inc (SIRI.O: )
added about 583,000 net subscribers in the second quarter,
bringing its total base to 19.5 million as healthier car sales
lifted demand for satellite radio.

The satellite radio company said on Wednesday it also
improved the rate of subscriber turnover, known as churn, to
1.8 percent. That was down from 2 percent in the year-earlier
period.

Gabelli & Co analyst Brett Harriss called the additions
“great,” and said they beat his “aggressive” forecast.

“The health of the company is great, and shows it was able
to get the merger through and cut a big part of fixed costs,”
Harriss said, adding the improved subscription numbers point to
an automotive recovery.

Sirius, which merged with rival satellite radio company XM,
said the subscriber results were the strongest since the two
companies joined in July 2008.

It said customers who added its service increased 46
percent, while those dropping subscriptions fell 8 percent in
the second quarter.

Shares of Sirius, home to popular personalities such as
Howard Stern and Oprah Winfrey, rose 5.8 percent to 99 cents in
early trading.
(Reporting by Jennifer Saba, editing by Gerald E. McCormick
and Maureen Bavdek)

UPDATE 2-Sirius subscriptions improve in Q2; shares jump