Sirius XM Satellite (SIRI) to Hit iPhone Tomorrow; Stock Jumps 30%

June 17, 2009 5:36 PM EDT

Shares of Sirius XM Radio (Nasdaq: SIRI) are continuing higher in this evening's after-hours session following reports earlier today that the satellite radio service will be making its first ever appearance on Apple's (Nasdaq: AAPL) iPhone starting tomorrow.

The stock jumped 6% just after noon as investors began piling into the trade, and then again around 3pm ET as word spread further. Sirius XM shares closed today's session up 23% at $0.396 and have since added another 7% following the close.

Sirius has said it's satellite subscribers will be able to download iPhone software tomorrow, June 18, and will be required to pay an additional $3 per month if they do not already pay for the "Internet" option.

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