Denver - Universal Music Group and XM Satellite Radio (NASD: XMSR) have reached a deal that will see Universal drop its lawsuit against XM, over a satellite radio receiver that can save individual songs for later listening, Billboard reports. The settlement purportedly includes a multi-year deal that addresses Universal's concerns with both the Pioneer Inno, and any other future XM devices that feature recording capabilities.

XM still faces similar litigation from the other major labels.

"We look forward to continuing our discussions with the other music companies in hopes of reaching a resolution that benefits everyone," and XM spokesperson told Billboard.

Related Links:
http://snipurl.com/1vfjo (Billboard)

http://www.xmradio.com

http://snipurl.com/1vfk2 (Pioneer Inno)