Sirius XM Radio officially received a notice of de-listing from the NASDAQ and intends to fight the process by requesting a hearing before a NASDAQ Listing Qualifications Panel.  The company plans to ask for continued listing pending its return to compliance with the $1.00 minimum closing bid price requirement.

"We are committed to remaining listed on The NASDAQ Global Select Market," said Mel Karmazin in a statement, according to Orbitcast.  "Sirius XM is one of the most liquid securities on The NASDAQ Global Select Market. We have a large investor base consisting of both individual and prominent institutional stockholders; and our equity capitalization is greater than approximately 92% of the companies listed on The NASDAQ Global Select Market."

Orbitcast also reports that as of Monday, March 22, Sirius XM's common stock will be added to the NASDAQ Q-50 Index. Rick Aristotle Munarriz of the Motley Fool reports that the move likely means NASDAQ does not actually intend to de-list Sirius XM.