XM Satellite Radio ( XMSR) reached a five-year licensing pact with the American Society of Composers, Authors & Publishers.

The agreement provides for XM Satellite Radio to pay royalties to ASCAP for the public performance of copyrighted musical compositions in the Society's repertory of over 7 million works.

"XM's commitment and support of the music industry have helped provide millions of music fans an exciting new way to enjoy the music created by ASCAP's 250,000 songwriter, composer and publisher members," said Vincent Candilora, senior vice president and director of licensing of ASCAP. "And there's no question that the talent of ASCAP's members has had a strong impact on XM's subscription growth. We sincerely appreciate their recognition of the contributions made by our members."

"XM is pleased to renew our agreement, which compensates ASCAP's composers and lyricists for their important contributions," said Eric Logan, executive vice president of programming at XM Satellite Radio. "We look forward to continuing our productive and mutually beneficial relationship with ASCAP and its members."

XM rose 6 cents Monday to $11.26.