Washington - XM Satellite Radio (NASD: XMSR), the provider of satellite radio services in the process of merging with rival Sirius, said on Friday that it has settled a lawsuit filed by major label Sony BMG (NYSE: SNE) relating to the Pioneer Inno, a portable satellite radio with advanced recording features. The financial terms of the settlement were not disclosed.

XM now has settled with three music companies over its radios with recording functionality, following similar agreements in December with Universal Music Group and Warner Music Group.

As a result, Sony BMG said that it has withdrawn as a party to the complaint filed by the major record companies against XM in May 2006.

The news sent shares of XM up 3% in Friday's midday trading on the Nasdaq.

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