The New York Times is reporting (subscription required) that satellite radio operator Sirius XM is preparing for a possible bankruptcy filing. According to the New York Times, Sirius XM owes about $175 million in debt repayments that are due at the end of February that it will not be able to pay. Although a bankruptcy filing is unlikely to disrupt service to the more than 45 million subscribers to satellite radio service, it may signal the departure of some of the broadcaster’s A-list talent…like Martha Stewart or Howard Stern.
