Beginning March 11, Sirius XM confirmed that it will raise its rates. This includes a $2 increase for the subscription and a $2.99 fee for internet radio service (although all internet subscriptions will now include a 128k feed).
By locking in a new contract before March 11, subscribers can benefit from lower rates for the next three years.
Sirius XM hopes that the announcement will help it tackle issues of debt, both by provoking subscribers to lock in those lower rates or by generating more revenue with higher prices.
Confirmed: Sirius Radio Raising Rates March 11 (The Consumerist)