Sirius XM Announces $2 Billion Stock Repurchase Program And Special Cash Dividend

   Sirius XM Announces $2 Billion Stock Repurchase Program And Special Cash
                                   Dividend

PR Newswire

NEW YORK, Dec. 6, 2012

NEW YORK, Dec. 6, 2012 /PRNewswire/ -- Sirius XM Radio Inc. (NASDAQ: SIRI)
today announced that its Board of Directors has approved a $2 billion common
stock repurchase program. Shares of common stock may be purchased from time
to time on the open market and in privately negotiated transactions. Liberty
Media Corporation, the beneficial owner of approximately 49.8% of the
Company's stock, has indicated that it will participate in the Company's share
repurchases on a pro rata basis so that its relative ownership interest will
not be affected by the program. The Company will fund the repurchases through
cash on hand, future cash flow from operations and borrowings under its
revolving credit facility.

(Logo: http://photos.prnewswire.com/prnh/20101014/NY82093LOGO )

The Board of Directors also declared a special cash dividend in the amount of
$0.05 per share of common stock, payable on December 28, 2012 to stockholders
of record as of the close of business on December 18, 2012. The Company's
preferred stock will participate in the dividend on an as-converted basis in
accordance with its terms.The total amount of the cash dividend is expected
to be approximately $325 million.

The combined announcement reflects the Board's desire to return value to
stockholders and its confidence in the long-term growth prospects of the
Company's business. SiriusXM retains ample capital capacity to continue
making long-term investments in its programming, research and development
initiatives and overall operations, as well as pursue strategic opportunities
that may arise.

The timing and amount of any shares repurchased will be determined based on
the Company's evaluation of market conditions and other factors and the
program may be discontinued or suspended at any time. Repurchases will be
made in compliance with all SEC rules and other legal requirements and may be
made in part under a Rule 10b5-1 plan, which permits stock repurchases when
the Company might otherwise be precluded from doing so.

About Sirius XM Radio

Sirius XM Radio Inc. is the world's largest radio broadcaster measured by
revenue and has 23.4 million subscribers. SiriusXM creates and broadcasts
commercial-free music; premier sports talk and live events; comedy; news;
exclusive talk and entertainment; and the most comprehensive Latin music,
sports and talk programming in radio. SiriusXM is available in vehicles from
every major car company in the U.S., from retailers nationwide, and online at
siriusxm.com. SiriusXM programming is also available through the SiriusXM
Internet Radio App for Android, Apple, and BlackBerry smartphones and other
connected devices. SiriusXM also holds a minority interest in SiriusXM Canada
which has more than 2 million subscribers.

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," "believe," "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 statements: our competitive position versus other forms of
audio entertainment; our dependence upon automakers; general economic
conditions; failure of our satellites, which, in most cases, are not insured;
our ability to attract and retain subscribers at a profitable level; royalties
we pay for music rights; the unfavorable outcome of pending or future
litigation; failure of third parties to perform; and our substantial
indebtedness. 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, 2011, 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 orlike the SiriusXM page on Facebook.

E - SIRI







SOURCE Sirius XM Radio Inc.

Contact: Investors: Hooper Stevens, 212 901 6718, hooper.stevens@siriusxm.com;
or Media: Patrick Reilly, 212 901 6646, patrick.reilly@siriusxm.com
 
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