The rumors were flying all day after that NY Post story hit and now we can officially tell you that XM and Sirius are indeed merging. Mel Karmazin (head of Sirius) will be CEO while Gary Parsons (head of XM) will be chairman of the new company. Both companies will continue to operate independently until the merge goes through. In other words, you ain't getting a load of new channels when you turn your satellite radio on tomorrow. (Damn!) But the world of satellite radio will get interesting regardless. An "official" press conference is expected tomorrow.
Sirius and XM to Combine [Press Release]