Wall Street thinks the idea of the two major satellite radio companies merging makes more and more sense every day. With the stocks of both companies dropping some 30% and the combined paying audience of Sirius and XM being well over 10 million, it just makes sense. But it makes more sense for XM, which has sunk like a stone from $34.65 to $11.01. The percentage drop for Sirius is similar, but somehow going from $4.72 to $3.75 doesn't seem so bad.
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