My first earnings short-squeeze trade idea is satellite radio player Sirius XM Radio ( SIRI), which is set to release its numbers on Thursday before the market open. Wall Street analysts, on average, expect Sirius XM Radio to report revenue of $785.49 million on earnings of 1 cent per share. During the last quarter, this company beat Wall Street estimates by 1 cent, reporting a profit of 2 cents per share. Sirius also beat estimates in the second quarter. Revenue has trended higher for Sirius for the past four consecutive quarters. The current short interest as a percentage of the float for Sirius XM Radio is notable at 8.2%. That means that out of the 3.68 billion shares in the tradable float, 305.10 million shares are sold short by the bears. The short-sellers have also been increasing their bets from the last reporting period by 1.2%, or by about 3.71 million shares. From a technical perspective, SIRI is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock recently found some big buying support at around $2.00 to $2.03 a share, and since then it has trended higher towards its current price of $2.12 a share. The recent uptrend for SIRI has registered a number of upside volume days that were well above the average volume. This could mean that large traders are accumulating the stock ahead of the quarter. If you're bullish on SIRI, I would look to buy this stock after its earnings report if it can manage to trigger a breakout trade above $2.16 to $2.19 a share on high-volume. Look for volume that's tracking close to or well above its three-month average action of 54,439,300 shares. If we get that action, I would look for SIRI to make a run at $2.35 to $2.44 a share or possibly much higher of the bulls gain full control of this stock post-earnings. I would simply avoid any long-biased trades in SIRI if it fails to trigger that breakout after they report their results. I also featured Siri, which shows up on a list of 5 Stocks to Watch Under $5, in " 5 Stocks Under $10 Set to Trigger Big Moves."