Please look for an upcoming article under this name:
Sirius XM: $2b Doesn't Buy 600m Shares
Disclosure: I am long SIRI.
Additional disclosure: I have August $3, $3.5 calls along with September $3, December $3, January 2014 $3.5 and January 2015 $3.5 calls. I have covered calls in September for $3.5 and $4.