I just got off the phone with a buddy of mine who recently signed up with XM Satellite Radio (NASDAQ:XMSR). He was in a complete panic.

"I can't talk now," he screamed. "I have to get out of this XM contract!"

Just last week, he was excited about the fact that he had signed on for satellite radio. I never questioned why he went with XM over Sirius (NASDAQ:SIRI). Maybe he didn't care about the NFL package. Personally, the NFL would have been enough for me; but to each his own.

His panic attack stems from rumors that radio personality Howard Stern might be signing on with Sirius. An opportunity to stay connected with his morning ritual has revealed itself.

Clear Channel Communications (NYSE:CCU) recently removed Howard Stern from a number of radio stations across the country because it deemed his show indecent. While millions of listeners have been preaching against puritanical censorship, they haven't really yet had an option that could allow them to continue listening to Stern. Now they might, and congrats to the Fool's Rick Munarriz for calling this one in advance.

Stern has built a legacy by bucking the system. In the early days, he went against the ideas of network executives to build the largest listening audience in the history of radio. He does things because they are grand. What could be bigger than ushering in a paradigm shift from public to satellite radio? This could be the biggest buck of all time. And if you're a Sirius shareholder, it could make you a buck or two as well.

Stern's radio audience numbers in the millions. This dwarfs Sirius' current customer base, which is around 300,000. If Sirius is able to woo Stern to its team, it would have an immense impact on new subscribers.

Since both XM and Sirius have huge amounts of debt, the race here is for subscribers. XM has built a hefty lead, but Howard Stern may be the great equalizer. We'll just have to wait and see if he turns out to be serious.

Are you serious about satellite radio? If so, you should be in our Sirius Satellite Radio discussion board.

Motley Fool contributor Sasha Sobol owns shares of Sirius, but definitely not any of Clear Channel Communications.