XM Satellite Radio Posts 9.6% Rise in Customers

XM Satellite Radio Holdings Inc.’s customer base rose 9.6% to more than 6.5 million on March 31, topping that of rival Sirius Satellite Radio Inc. by 2.5 million.

XM added a net of 568,000 subscribers in the first quarter, the company said. The gain was about 60,000 more than estimated by Benjamin Swinburne, a Morgan Stanley analyst, who said in a note to investors that XM was “more than likely” to reach its goal of 9 million customers by the end of the year.

XM shares fell 7 cents to $22.20.