An investigation on behalf of investors in shares of Sirius XM Radio Inc. (NASDAQ:SIRI) over potential securities laws violations by certain officers and directors was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Sirius XM Radio Inc. (NASDAQ SIRI) concerning whether certain of its officers and directors, or others have possibly breached their fiduciary duties. Specifically, the investigation concerns whether certain statements regarding Sirius XM Radios business, its prospects and its operations were potentially materially false and misleading at the time they were made.

Sirius XM Radio reported that its annual Revenue rose from $922.07million for 2007 to $2.81billion for 2010 and its Net Income over the same time frame increased from a Net Loss of $565.25million for 07, respectively $5.31billion in 08 to a Net Income of $43.05million in 2010. For the third quarter 2011 Sirius XM Radio Inc. reported a third quarter Revenue of $762.55million compared to $717.55million one year earlier and a third quarter Net Income of $104.19million compared to $67.63million last year.

Shares of Sirius XM Radio Inc. (Public, NASDAQ:SIRI) rose from as low as $0.10 per share in January 09 to over $2.30 in May 2011. However, NASDAQ: SIRI shares traded in the end of November at roughly $1.75 per share.