Officials with XM and Sirius Satellite Radio have announced plans to merge the two satellite radio operations into one company.

However, the execution of that plan still hangs in the balance, depending on whether federal regulators approve the deal. A similar proposed merger four years ago of satellite television broadcasters EchoStar and DirecTV was rejected on the grounds that it would have created a monopoly.

According to a press release from XM, subscribers to both services would not have to buy new radios, and the merged operations would have strong incentives to keep monthly subscription costs down.

The press release also said a merger would allow the new company to eliminate some musical programs that are virtually identical on both satellite services and free up space for new programming.

A recently released survey of OOIDA members shows that exactly one-third or respondents said they have XM, while 17 percent have Sirius.