Investors enthusiastic over Sirius XM Radio

|About: Sirius XM Holdings Inc. (SIRI)|By:, SA News Editor

Shares of Sirius XM Radio (SIRI) race 7.8% higher to $3.85 in premarket trading following an offer late Friday from Liberty Media (LMCA) to take over the company in a deal which values the company at $3.68 per share.

In a conference call with analysts, execs said if the deal is completed it would allow Liberty to start buying back shares at an increased pace.