NEW YORK ( TheStreet) -- Sirius XM ( SIRI - Get Report) announced today that it has passed the 20 million subscriber mark, reaching the highest number of net subscribers in satellite radio history.

"Reaching and surpassing 20 million subscribers is a significant milestone for us. We have added the last 10 million subscribers faster than the first 10 million -- despite a tremendously competitive environment," Sirius CEO Mel Karmazin said.


In celebration, Paul McCartney will perform at the Apollo Theater in an exclusive concert for Sirius XM listeners on December 13. McCartney will perform songs from his solo career, as well as songs he recorded with The Beatles.

"Sir Paul's performance at the Apollo Theater is our way of thanking our subscribers," president and chief content officer Scott Greenstein said. "We are thrilled to offer them an opportunity to attend the event and listen live to this once-in-a-lifetime concert on Sirius XM."

Subscribers are the most important source of revenue for the company, pulling in billions of dollars each year. In 2008, Sirius reached 19 million net subscribers. In 2009, the subscriber base decreased to 18.8 million.

In the first three quarters of this year, the satellite radio company added 1.1 million net subscribers compared to a loss of 488,126 net subscribers in the first three quarters of 2009. At the end of the third quarter the company had 19.9 million net subscribers.

-- Written by Theresa McCabe in Boston.

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