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SEC Closes XM Probe

Washington – The Securities and Exchange Commission (SEC) completed its investigation of XM Satellite Radio and said it will take no further action.

The SEC had been investigating XM’s practices regarding subscriber data and stock options since August. XM had been asked to provide the SEC documents about XM’s subscriber targets, costs associated with reaching those targets and related matters from the third and fourth quarters of 2005.

XM said it was notified this month that that the SEC completed its investigation and does not intend to recommend any enforcement action.