Sirius, XM Shareholders Approve Deal

Shareholders of both Sirius Satellite Radio and rival XM Satellite Radio have approved the deal that would combine their operations.

Approval of the 5 billion-dollar deal was widely expected, as the combination would allow the companies to save costs on programming, acquiring subcribers and broadcasting.

Sirius says more than 96 percent of the shareholders voting approved the acquisition, while XM says 99.8 percent of its shareholders were in favor.

The companies say they still hope to complete the deal by the end of the year.

The largest hurdle has yet to come -- approval by Department of Justice and the Federal Communications Commission.

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