The FCC and the Justice Department continue to review the proposed merger between XM Satellite Radio  (Nasdaq: XMSR) and Sirius Satellite Radio (Nasdaq: SIRI). Is no news bad news for investors? Proponents of the merger argue that XM and Sirius face a number of competitors, including Apple (Nasdaq: AAPL) and its iPod, as well as terrestrial radio, HD radio, and Internet radio. But how will the federal government define the competition? And would a merger really improve the reception for satellite radio on Wall Street? In this installment of "Fool Video," Motley Fool senior analyst Rick Munarriz gives his take on the future of XM and Sirius.

Apple is a Motley Fool Stock Advisor recommendation. Neither Rick nor Mac owns any of the shares discussed. The Motley Fool has a disclosure policy.