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Sirius XM Radio (SIRI)
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SIRI » Topics » By Electronic Delivery to: pdonnelly@siriusradio.com

This excerpt taken from the SIRI 8-K filed Sep 17, 2009.

By Electronic Delivery to: pdonnelly@siriusradio.com

September 15, 2009

Mr. Patrick L. Donnelly
Executive Vice President & General Counsel
Sirius XM Radio Inc.
1221 Avenue of the Americas, 36thFl.
New York, NY 10020

Re: Sirius XM Radio Inc. (the “Company”)
  Nasdaq Security: Common Stock
  Nasdaq Symbol: SIRI

Dear Mr. Donnelly:

As we discussed, our Listing Rules (the “Rules”) require listed securities to maintain a minimum bid price of $1.00 per share. Based upon the closing bid price for the last 30 consecutive business days, the Company no longer meets this requirement.1 Consequently, a deficiency exists with regard to the Rule. However, the Rules also provide the Company a grace period of 180 calendar days in which to regain compliance. The following table summarizes the critical dates and information as related to this matter.

  Expiration of 180 calendar    
Period below $1.00 bid price day grace period Press Release Due Date Relevant Listing Rules
  March 15, 2010 September 21, 2009 5450(a)(1) – bid price
August 3, 2009 to 5810(c)(3)(A) – grace period
September 14, 2009 5810(b)– public disclosure
  5505 – Capital Market criteria

If at anytime during this grace period the bid price of the Company’s security closes at $1.00 per share or more for a

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