Sirius (Nasdaq:SIRI) Lands Howard Stern for Another 5 Years

Shareholders of Sirius XM (Nasdaq:SIRI) are surely sighing with relief at the news Howard Stern has signed on with the satellite radio company for another five years.

Details of the contract weren't revealed by Stern weren't revealed, but he did say it offered him more flexibility, suggesting it may be less than the prior contract, but that's supposition at this time.

Stern said, "The contract allows for me for a new flexible schedule. I'll have more flexibility. But I'll get into that in the future."

The prior schedule was for four days, which means it may have been whittled down to a three-day work schedule.

Stern's staff will negotiate their contracts with Sirius on an individual basis.

Sirius was trading at $1.39, up $0.08, or 6.08 percent, as of 2:16 PM EST.