Sirius XM adds subscribers in Q1

Satellite radio firm now has 18.9 million subscribers

NEW YORK -- Sirius XM Radio continued to add subscribers in the first quarter as it had done in the back half of 2009 after several quarters of declines.

The satellite radio firm added 171,441 net subscribers in the first quarter, compared to a net decline of 404,422 in the year-ago period.

The company ended the first quarter with more than 18.9 million subscribers.

"Our subscriber results represent a remarkably positive turn from the year ago quarter, reflecting the broad appeal of our unrivaled programming, the benefits of a recovering auto industry and an improving economic environment for consumers," said Sirius CEO Mel Karmazin.

The company also expects to report "solid revenue growth and strong growth" in pro forma adjusted income from operations for the first quarter when it announces its latest results next month.

Sirius shares closed up 11.4% to $1.07.