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Sirius, XM Extend Merger Deadline

2/29/2008 12:53:00 PM Eastern

Washington — XM Satellite Radio and Sirius Satellite Radio today announced that the companies have agreed not to exercise their rights to terminate their merger agreement until May 1.

The closing of the pending merger remains subject to satisfaction of all applicable conditions, including approval from the Department of Justice and the Federal Communications Commission.

Under terms of the original agreement, either party could terminate the deal if it had not been approved by March 1.