The talk has persisted even as talks between a Liberty subsidiary and WorldSpace to buy the latter's assets fizzled in March. And while Sirius XM hasn't responded to TheStreet's request for comment about the ongoing speculation, several analysts who spoke with us believe that Sirius XM could carry out the feat. Whether it wants to, or not, is another question entirely. "The business is seriously unprofitable at this point it," David Trainer, president of Nashville-based research firm New Constructs said. Thus, notes Trainer, in order for such an undertaking to be carried out, Sirius XM "would require a lot of additional capital." Trainer, it's worth noting, holds a "dangerous" rating on the stock. And by his way of thinking, although things might be getting better for Sirius XM, "the upside has already been baked into the stock price.... We think that its valuation is stretched already." Trainer argues that Sirius XM's quarterly earnings reports contain accounting distortions that doesn't show the true picture of just how unprofitable this company is. Matthew Harrigan of Wunderlich Securities, on the other hand, thinks that Sirius XM "would have the capital latitude" within two to three years to undertake an international launch. >>Search for Highest Dividends by Rate or Yield
NEW YORK ( TheStreet) -- Ever since Liberty Media ( LCAPA) -- which bought 40% of Sirius XM ( SIRI) in 2009 and rescued the company from bankruptcy -- bought up debt of international satellite radio operator WorldSpace through a subsidiary, speculation has run rampant that perhaps Sirius and WorldSpace could work to bring Sirius XM's programming abroad.