SIRIUS Satellite Radio (NASDAQ: SIRI) stock has surged above the $4 mark in Monday morning trading up 7.45% to $4.04. This rise comes before Wednesday’s third quarter earning’s report. The rise is a quick reversal of previous alltime lows in the $3.60 – $3.70 region. In related news, XM Satellite Radio announced their third quarter earning’s report today. Their 3Q loss narrowed and their revenue increased 57%. The overall loss is $84 million or 32 cents per share. This is promising news for the satellite radio market, who have been in troubled times recently with lower than expected subscriptions. XM’s stock was up 16% so far today. Everyone should be expecting further movement after Wednesday’s announcement by SIRIUS.