XM Satellite Radio CEO Hugh Panero, along side the recently signed Ludacris, rang the bell at NASDAQ this morning and also made an appearance on MarketWatch. Watch the video here.

Panero addresses the possible conflict with the RIAA regarding XM’s upcoming satellite radio/mp3 devices, reinforcing the fact that they comply with all the RIAA requirements. It’s a nice little video to watch, check it out.

Stifel, Nicolaus & Company have a nice report (Download PDF) on XMSR. They expect XM to hit 5 million subscribers in two weeks (around Sept 23rd) and give it a 1-year target of $44. This is a very well written report in my opinion and worth the read even if you’re an XM-hater (anti-xmelot?) though history has shown us to be weary of what those crazy analysts say anyway.

My guess is that XM has already hit 5 million subscribers and are holding out for “the right time” to announce it (those PR boys are crafty).

Thanks Greg!