XM Satellite Radio
is a satellite radio
service in the United States
that provides digital programming directly from two satellites (nicknamed "Rock" and "Roll") orbiting above North America
. It is based in Washington, DC
and is traded on the Nasdaq
stock exchange under the stock symbol
XM's business model is to provide pay-for-service radio, free of a great number of commericals, analagous to the business model for cable television. As of January 2003, revenues have been lower than expected, and the company has needed to refinance.
XM's competitor is Sirius Satellite Radio.