• by Erik Sass  @eriksass1, March 19, 2010

Six months after receiving its first warning, Sirius-XM Radio has received another notice that it faces delisting from NASDAQ because it has failed to raise its share price above the $1 minimum required for at least 10 consecutive trading days.

Like most other companies recently threatened with delisting, Sirius-XM said it will request a hearing to appeal the impending removal from the exchange. If Sirius-XM can present NASDAQ's listing qualifications panel with a convincing plan to raise its share price above $1, the panel may grant the company a six-month extension.

Sirius-XM CEO Mel Karmazin expressed confidence that it would be able to raise its stock price above $1 by one of several measures, asserting: "There is absolutely no concern about Sirius XM continuing to be listed and traded on NASDAQ, noting that the company is "one of the most liquid securities on the Nasdaq Global Select Market. We have a large investor base consisting of both individual and prominent institutional stockholders; and our equity capitalization is greater than approximately 92 percent of the companies listed on the Nasdaq Global Select Market."

Among the potential measures considered for raising the stock price is a possible reverse stock split, already approved by shareholders and still pending a decision by the satcaster's board of directors.

However, CEO Mel Karmazin also stated in a recent conference call that the company would try to raise the price above $1 through other means, in which case "we have no plans to execute a reverse split."

Sirius XM was first notified that it faces delisting in September 2009, after its share price fell below $1 for 30 days in a row. Although its NASDAQ listing may be in peril, its stock price of about $0.90 is considerably higher than its year-low of $0.05.