(May 1, 2007 7:09am PDT) Sirius Satellite radio issued their first quarter report yesterday and it shows a gain of 556,490 net subscribers in the first quarter. XM, which also reported last week said it had ended the quarter with 7.9 million subscribers and now has 8 million. That puts the combined total of subscribers to just below 15 million. Sirius said it has narrowed losses to $144.7 million versus a loss of $458.5 million a year ago. Thatwas the period where they payed Howard Stern $225 million. Revenue for Sirius was up 61% to $204 million from $126.7 million but was below the analyst's projection of $212 million. The cost of adding new subscribers
was down from $113 to $104 but churn is up to 2.3% from 1.8%. Sirius stillsays it will reach $1 billion in revenues and 8 million subscribers by the end of this year.