As a Sirius subscriber, I’m not excited to hear reports this week that the satellite radio company is on the verge of bankruptcy. But with the economy in the tank and credit getting tighter, Sirius XM is having trouble keeping operations afloat.

Declining auto sales have also negatively impacted the growth of Sirius XM’s subscriber base. While many new vehicles come pre-equipped with the service, if no one’s buying, no one’s listening (and paying beyond the initial trial).

Get the full story via The New York Times.

As the article points out, the bad news doesn’t mean service is being shut off tomorrow, of course. But as I’ve discovered a bunch of new music via Sirius (and I’m majorly mad for its BBC Radio 1 programming), I hope the company’s creditors or another owner might find a way to keep beaming down the good stuff.