STEVE INSKEEP, Host: Now, the nation's only satellite radio service, Sirius XM, faces bankruptcy. This comes after these two companies, Sirius and XM, waged a major struggle to get their merger approved. Now, the company could file for Chapter 11 as early as next week. And we have more this morning from NPR's David Folkenflik.</s>DAVID FOLKENFLIK: The combination of XM and Sirius brought together radio channels for the NFL, Major League Baseball, NPR News, Oprah Winfrey, Bob Dylan, Bruce Springsteen and, of course, shock jock Howard Stern, who has a $100 million-a-year deal. Here was Stern this week, audibly leering at an Australian singer who survived the troubled US Airway's flight that landed safely on the Hudson River.</s>M: I'm thinking about stuff like that. You've got my mind going, baby. Don't mean to make you blush.</s>DAVID FOLKENFLIK: Sirius XM is still growing, with nearly 19 million subscribers paying $12.95 each month for a 130-plus channels. But the company's debt has ballooned, and its stock price ended yesterday at just 7 cents a share. A $175 million debt payment is due next Tuesday, and Sirius XM does not really have the cash. The company did not respond to requests for comment. But back in November, CEO Mel Karmazin told investors the February payment was very much on his mind.</s>M: We are hopeful and confident of shortly announcing refinancing of that trunch(ph).</s>DAVID FOLKENFLIK: David Folkenflik, NPR News, New York.
Sirius XM Radio Inc., which has $3.25 billion in debt, faces a deadline next week to repay $175 million. With credit hard to come by, the satellite radio company has few options and could be forced into bankruptcy.