Yeah, I think we agree on more here than we apparently dis-agree on! The only way I would "average-down" Sirius now, is if I had a "boat-load" of capital, risk-capital that is. As I said, I "fell-to-the-temptation" to buy another large chunk at $3.00; but much or my reasoning in doing so was that my "time-line" for that particular buy is rather LONG! The main problem I have with Sirius "isn't the question of its' viability", but more the question of its "shares-outstanding", which is tremendous! It takes remarkable impetus to move the PPS with a Billion plus shares! Which brings me to the "XM question". Do you know if XM's "debt financing" is "locked-in at fixed rates"? If I was an XM investor, I sure would want to know that, b/c interest rates are "going-up", and that's one thing that could really be a strain to a "debt-heavy" corporation! I guess my big hope with Sirius and its many, many shares is that "everything that it has done, that has resulted in a need for it to raise capital", has largely been done in an effort to "bolster the Co.'s future cash and income position". While all the "additions" may have been costly, such as NFL, increased content expenses, and distribution cost, one has yet to see the "effects" of these investments, and that will be told in "future sub-counts", and it's my bet and contention that the sub-rate and growth will outweigh the "cost" of acquiring these subs via issuance of stock!