Additionally, Sirius XM said it expected to end 2013 with $4.1 billion in revenue, compared with $2.4 billion in 2008. The company said it expects to see positive free cash flow in 2010 and should have $1.4 billion in free cash flow in 2013.
Shares of Sirius XM were jumping 11.5% to 29 cents a share in early trading. The stock is now down 91% for the year and more than 86% since the merger between Sirius and XM was finalized July 29.
Sirius XM will report third-quarter results on Monday, with analysts expecting a loss of 9 cents a share on revenue of $587.4 million, according to a poll by Thomson Reuters. Investors are also hoping for clarity on hints it gave that it was planning a reverse stock split as a solution to prop up slumping shares.