Mel Karmazin isn't very happy about the stock price of Sirius, but compared to XM? "We suck less," he said at today's shareholder meeting.

Sirius' shares are up just 8 percent since September 2004, but Karmazin noted that wasn't nearly as bad as the 61 percent decline in share price over the same period by XM Satellite Radio.

The Sirius CEO blamed the poor stock performance on the overly negative view of the satellite radio industry, despite the achievements both companies have made getting closer to profitability.

Karmazin also defended Howard Stern's $500 million pay package signed with Sirius in 2004, saying: "He earned it."

[AP Newswire]