When Jim Cramer looks at Ingersoll-Rand ( IR), which he owns for his charitable trust, Action Alerts PLUS , and compares it with its peers, the company comes off too cheap, he told a caller on his "RealMoney" radio show Monday. Although it's possible that this cheap stock could get cheaper, Cramer said he would not miss the opportunity and would buy some now. Cramer said he believes that XM Satellite Radio ( XMSR) will one day indeed get a takeover bid from Sirius Satellite Radio ( SIRI). While Sirius has accelerated its earnings growth and has met every aggressive target it has laid out for itself, XM Radio has also set aggressive targets, but has gotten hammered. Although XM Radio's fundamentals are deteriorating, Cramer said at $12, because the stock is close to being rescued by Sirius, he doesn't believe people should let go of it yet. When a caller asked about Palm ( PALM), Cramer said the stock is down for this segment of the market and it is currently too low to sell. However, he pointed out that there is not a worse sector than tech right, making it difficult to buy tech this summer. But looking at more that a one-day perspective, Cramer said he believes that Palm can come back because it is a decent company with great fundamentals and has the possibility of becoming a takeover target. In fact, Cramer said if he were Hewlett-Packard ( HPQ) or Dell ( DELL), he would buy Palm, the company. It is too cheap, and Cramer recommended buying, not selling it now. When a caller inquired if he should double down on Home Depot ( HD), Cramer said that while Home Depot is cheap, the company can't even find a chief operating officer right now because it is in so much turmoil. In addition, he said that Home Depot has no room for growth, whereas Lowe's ( LOW) does.