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Sirius XM Should Go Global Soon: Poll

A weeklong poll on the topic of Sirius XM's global opportunities shows investors are bullish on the notion of international expansion for Sirius.
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(Sirius XM story updated with Monday's closing stock price for the stock, and investors' views on the stock.)

NEW YORK (TheStreet) -- Despite all the optimism over Sirius XM's (SIRI) - Get Report potential for growth, a greater portion of readers who took TheStreet poll on the topic of the company's global opportunities seem to agree that it still needs more time to be ready for an international expansion.

But it was a close race.

At the end of last week, we asked readers of

TheStreet

when -- and if -- you think Sirius XM should expand internationally. A full 27.6% of respondents said that Sirius XM should expand in two years, followed closely by some 25.6% who think that it could do it in one year.

Trailing closely behind those voting blocks were those who believe that Sirius XM is ready -- right now -- to engage in an international expansion; 23.2% of the survey takers felt this way.

Put another way: More than 76% of the investors who responded to our survey believe that Sirius XM should expand internationally within the next two years. This, of course, is well in keeping with the traditionally bullish sentiment of the readers of

TheStreet

, regarding Sirius XM.

Indeed, one of the readers who participated in the discussion said that Sirius XM should be able to expand globally with cost-effective means.

"Why does international content distribution have to be accomplished via company owned satellites?" the reader wrote. "Content expansion should be a key organizational thrust, but in very cost effective ways; through strategic partnerships, licensing agreements, Internet players and wifi points, for example."

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Meanwhile, 19.2% of the poll takers believe that the company will be ready for such an endeavor in three or more years, while the rest, or 4.4%, think that the company doesn't need an international expansion.

More on Sirius XM Jim Cramer Talks Sirius

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"I believe there's a lot more potential here in the U.S. and they should play that out first. I believe they can capture another 10 million more subscribers here, and then maybe worry about expansion to other countries," another reader commented.

On May 27, Sirius XM held its annual stockholders meeting, as the company's stock begins to flirt with the $1 mark again. That's provoked some concern about another NASDAQ delisting threat.

Although the company has generally been reluctant to execute a reverse stock split, an overwhelming majority of shareholders who participated in a vote during the meeting to extend the board of directors authority to effect a reverse stock split and reduce the number of authorized shares of common stock, cast in favor of the amendment.

Last week, one investor and StockTwit user claimed to have sold all shares of Sirius XM stock because they couldn't seem to break $1.02 soon enough.

"No longer have any SIRI," the investor wrote. "Will wait for key dates or price points before buying back in." The stock finished Monday's trading session at 97 cents, down 0.8%.

Meanwhile, this Friday, there will be preliminary additions and deletions to the Russell indices, which experiences a reconstitution every year, and are considered to be benchmarks for institutional investors. Sirius XM bulls are confident that the company will be on that prelimary list.

More on Sirius XM Jim Cramer Talks Sirius

-- Reported by Andrea Tse in New York

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