SIRIUS SATELLITE RADIO CLOSES COMMON STOCK AND CONVERTIBLE NOTES OFFERINGS
Offering of $230 million of 3¼ Percent Convertible Notes due 2011 Completed
Offering of 25 Million Shares of Common Stock Also Completed

SIRIUS (NASDAQ: SIRI), the premium satellite radio provider known for delivering the very best in commercial-free music and sports programming to cars and homes across the country, today announced that it closed an offering of $230 million in aggregate principal amount of its 3¼ % Convertible Notes due 2011, and an offering of 25 million shares of its common stock.

The net proceeds to the company total approximately $321 million. This amount includes the net proceeds received as a result of the exercise by Morgan Stanley & Co. Incorporated, the underwriter, of its option to purchase up to an additional $30 million principal amount of the convertible notes.

As previously disclosed, the notes are convertible into SIRIUS’ common stock at the option of the holder at a conversion rate of 188.6792 shares per $1,000 principal amount, or $5.30 per share. The notes may not be redeemed at the option of SIRIUS prior to maturity.

“The ability for us to raise this capital is a testament to the confidence within the financial community about the success of SIRIUS as the satellite radio category takes off,” said Joseph P. Clayton, CEO of SIRIUS. “With the introduction of next-generation products in the marketplace, more dealer and factory programs from our automotive partners, and the tremendous additions to our programming – such as the NFL, Eminem, Maxim and, in January 2006, Howard Stern – SIRIUS continues to be the premium content provider in satellite radio.”