Directed Electronics, Inc.announced this morning that they've extended their contract with Sirius Satellite Radio Inc. - news that has sent the DEIX stock up over 50% today.

Directed said the new contract contains "certain changes" to the handling of customer returns that will enhance cost recovery, reduce uncertainty and volatility with respect to returns and meaningfully improve the predictability of their earnings.

These "certain changes" will go into effect on January 1, 2008.

[Press Release]

Ford said today that they'll be targeting an approximate 70% factory penetration rate of Sirius radios starting with the 2009 model year vehicles.

In addition, Sirius Satellite Radio Inc. and Ford Motor Company said that they are extending their relationship. Sirius and Ford had previously extended their partnership through 2011, but the exact terms on this deal extension were not announced. We do know that all Ford brands, Lincoln, Mercury, Land Rover, Jaguar, Volvo, and Mazda, are covered by the agreement. So that's good.

Ford had also previously been reluctant to give penetration numbers. With Chrysler at 70%, Mercedes at 90%, and VW/Audio at 80%; everyone has been tapping their collective foot waiting for a commitment from Ford.

At the 3Q07 earnings call, Sirius CEO Mel Karmazin had hinted towards this by saying "there will be an announcement from Ford sometime in the future," and obviously this is it.

And let's not forget Lincoln's installations of Sirius Travel Link as well. A preemptive sign that the Sirius-Ford relationship is nice and healthy.

Over a million Ford, Lincoln and Mercury vehicles have been shipped with Sirius factory-installed. Ford recently launched Sirius on its new Focus, bringing the number of Ford, Lincoln, and Mercury vehicle lines offering factory-installed Sirius to 23.

Sirius equipped vehicles are packaged with a six-month prepaid subscription, and the vehicles covered under this new agreement will be available next year at dealers.

Sirius Canada and Lexus are expanding their relationship to make Sirius Satellite Radio available in more Lexus cars sold in Canada.

The deal expands upon Sirius Canada's partnership with Toyota Canada that make Sirius available as an option at Toyota dealerships (originally on the FJ Cruiser, Camry, and Tundra).

Now Sirius Canada will be available - again, as a dealer-installed option - on all 2008 model year Lexus IS (pictured above), ES, GS, RX, and GX models.

Sirius will be available for Lexus vehicles in Canada starting in December 2007.

[via Orbitcast Forums]