Orbitcast is once again live blogging the Sirius Satellite Radio 2Q07 earnings conference call for those who can't tune in or who just want to read. Just keep hitting that 'refresh' button as I'll be updating this post frequently.

So let's begin:

• Listening to hold music (drinking coffee)
  
• OK! Should be starting shortly
• We're starting now... Scott Greenstein is traveling and will not be on the call

Sirius Satellite Radio (SIRI) announced their 2Q06 earnings results, showing a 51% increase in revenue year-over-year to $226.4 million, and strong subscriber growth of 561,493 new subscribers during the quarter.

Sirius ended the quarter with over 7,142,538 subscribers.

During 2Q07, Sirius added 561,493 net subscribers, comprised of 129,843 net additions from retail/aftermarket channels and 431,650 from the OEM channel. Sirius captured 62% of satellite radio segment share, marking the seventh consecutive quarter of leading subscriber growth in satellite radio.

Total revenue increased to a record $226.4 million, up 51% from $150.1 million YoY. Advertising revenue was $9.2 million. ARPU was $10.71. SAC was $108 for the quarter compared to $131 for the same period last year.

Sirius' net loss improved by 44% to ($134.1) million for the, from ($237.8) million for the same period last year. The adjusted net loss for second quarter 2007 (adjusted to exclude stock-based compensation) improved to ($117.1) million down from ($159.6) million for Q2 2006.

2007 Guidance:

• Total revenue approaching $1 billion
• Over 8 million subs
• Avg churn to 2.2% - 2.4%
• SAC approaching $100

Sirius Satellite Radio (SIRI) and XM Satellite Radio (XMSR) are scheduled to release their 2Q results within the next two weeks, and analysts are offering up their predictions of what's to come.

And the news ain't that bad. (surprised?)

Bear Stearns analyst Robert Peck projects that Sirius will add 920,000 gross subscribers, while net subscriber additions will come in at 477,000. For XM, Bear Stearns projects gross additions of 950,000 and net additions of 323,000 subscribers.

Bank of America's Jonathan Jacoby is a bit more bullish on subscriber additions, stating that Sirius "will easily top" BofA's estimates of 441,000 net subscriber additions, "and could beat the Street consensus estimate of 470K by as much as 25K." Jacoby also estimates that XM will also "easily top" the Street consensus of 310k net subscribers, and may even best his more aggressive estimate of 345,000 net subscribers.

The comps are hard though. For the same period last year, XM came in at 398,012 net subscribers (926,281 gross subs) and Sirius topped the scale at 600,460 net subscribers (830,571 gross subs).

Even if XM and Sirius beat out the more bullish estimates, they still likely won't beat 2Q06's numbers... albeit by a relatively small amount. But with the merger on everyone's minds, will it even matter?

Sirius Satellite Radio (SIRI) has scheduled their 2Q07 financial results conference call for Tuesday, July 31st, at 8am ET.

Sirius will announce its second quarter 2007 financial and operating results just prior to the call.

You will be able to listen in online.