MySXM is finally here.

Sirius XM Radio (NASDAQ:SIRI) officially introduced its personalized radio offering on Monday. MySXM offers subscribers with online access plans the ability to create customized radio stations by tweaking up to 100 variations of 50 different Sirius XM channels. 

It's Sirius XM's response to the growing popularity of Pandora (NYSE:P) and Spotify, though MySXM does have a few advantages over Pandora.

In this video, Rick explores why MySXM is a game changer. Monday's news didn't move the stock, but the feature could be a potent tool in helping the satellite radio provider squeeze more revenue out of the average user.