Greg Maffei, president and CEO of Liberty: "SIRIUS XM's ability to grow subscribers and revenue in a difficult financial and auto market is indicative of how listeners view this as a "must have" service."

John Malone's Liberty Media has agreed to invest a total of $530 million in Sirius XM Satellite Radio, allowing the beleaguered radio company to avoid a Chapter 11 bankruptcy filing, the companies said Tuesday.

"John Malone’s Liberty Media is expected to offer about $250m in a senior secured loan on Tuesday as the first step in a “multi-stage” deal to rescue Sirius XM ahead of an imminent debt deadline, one person familiar with the satellite radio group’s discussions said."

I want it.