Washington - Following months of conjecture and anticipation, federal regulators could be on the verge of approving XM Satellite Radio's (NASD: XMSR) merger with rival Sirius (NASD: SIRI), according to a published report. Briefing.com on Wednesday cited an unnamed source in reporting that the merger "could receive approval from DOJ and FCC tonight."

The speculation sent shares of both companies sharply higher in morning trading.

XM and Sirius have spent the past several months lobbying government and regulatory officials to support the proposed $5 billion merger.

The companies originally agreed to the deal last February.

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http://snipurl.com/1y33w (CNN Media Biz blog)