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Deutsche Bank out with interesting note on SiRF (NASDAQ:SIRF), saying that their checks with Motorola (MOT) indicate that they are likely to ship SiRF-enabled GPS phones to Cingular as early as Q2,to support that carriers' LBS launch. This will include the Motorola Q9 smartphone, part of what they think will be 2-3 phone models released at launch.

These phones are part of the 10 models they believe MOT will ship this year with SiRF inside. Firm believes SIRF has been designed into the SCPL platform, MOT's next ultra-thin product line. They anticipate to see these products at CTIA in March.

In their conversations with carriers at the show, firm thinks GPS is an important trend and a frequent topic of conversation. While not all carriers place as high a priority on LBS, they think GPS is likely to become an increasingly common feature in mid- and high-range phones. Firm thinks that by the end of next year GPS will be a standard feature in all smartphones, while some contacts think penetration will expand into more mainstream, mid-range devices in developed markets over the same period. They think carriers such as Cingular, Orange and China Mobile will all be drivers of the service this year.

Reiterates Buy rating and $35 price target.

Notablecalls: Nice catch by Deutsche! Phones may provide nice upside for the company (and the stock) long term. Short term, this note should provide a pop in the stock early today, but would not overstay my welcome - just look at how the stock got faded yesterday after good GRMN results.

Source: SiRF Could Pop On Deutsche Note, Motorola Win