Satellite Standard Group wrote up a description of the upcoming SIRIUS Wearable unit from today's Annual Meeting. These pretty much confirm what I was told by sources familiar with the project - the unit is wider than the S50, black face, white trim, and has a knob on the front. The S50 has an incredible form-factor, and it sounds like Sirius will follow suit with this next unit.
In addition, I'm hearing more things about the battery life - which quite possibly would be the "killer" aspect talked about by insiders when comparing this new unit against the Pioneer Inno. Word has it (and this is still very speculation-ish), battery life will be 25 hours, with an optional additional 25 hour battery pack - with a total of 50 hours of playback time. How? I have no clue.
UPDATE: According to more specific information from a source familiar with the matter, this 25 hour battery life thing is (hmm, how can I put this nicely)... utter bullshit. The last thing I want to do is create unrealistic expectations about this unit, so please make note of this correction. Gotta love that rumormill.
And on the heals of Mel unveiling the device (he held it up in his hand), MasterLink Securities has indicated that the manufacturer for this unit will in fact be Wistron NeWeb (with Directed Electronics being the distributor). Here's an excerpt from the report (or get the full PDF report)
Sirius currently has 3 suppliers for its antenna and receiving terminals/modules, WNC, Kiryung (004790 KS, 5170KW, NR), and Humax (028080 KS, 24950KW, NR), with each produces different models respectively. WNC is now producing 5-6 existing models for radio reception, approximately 60~65% of the Sirius’ shipment, mostly in-house or in-car (after market).
Portable receiving devices are expected to start delivery in 2H06, with MP3 function-enabled, which is not only MP3 on-the-go, but portable radio as well (imagine an iPod with radio channels available!) We believe this new portable device will add excitement to WNC’s satellite radio business, as PMP (Portable Multimedia Player) is of growing consumer interest in the next few years.
Very interesting. As I understand it, Kiryung makes the Starmate Replay, Sportster; Humax makes the S50; and Wistron NeWeb made the original Starmate, Xacts, Kenwood, and Streamer Lite units.
Thanks Rubicon!

Wistron Neweb Corp makes the Xact XTR1,XTR2, 7 and 8. They make all Sirius Connect models for Kenwood, Alpine, JVC, Eclipse. Starmate ST1, and ST2 Replay. RadioShack ST1R and ST2R Replay. Sanyo CRSR-10. Brix GTRC1 Replay, and SIR-SL1. So they do make a bunch of models for Sirius Sat. Radio.