Clock Ticks Slowly for XM, Sirius

Sirius (SIRI Quote) and XM's (XMSR Quote) merger is now officially on the clock, but few expect a speedy decision.

After an unprecedented 78-day delay, the Federal Communications Commission on Friday started to accept comments on a tie-up between the nation's only two satellite-radio players. The move starts a 180-day clock for the FCC to review the implications of the deal, putting the earliest potential regulatory decision date at Dec. 4.

Sirius and XM shares rose 2% Monday on news that the stalled merger has finally moved toward a review. Both companies have seen their stock fall 28% since plans for a merger were announced in February.

The delays to date have been due to heavy opposition lobby from the National Association of Broadcasters and steep legal hurdles. And though the FCC's clock has started ticking, observers say the review process typically involves a few time-outs. ...