Washington - Still awaiting approval from the Federal Communications Commission (FCC), XM Satellite Radio (NASD: XMSR) and Sirius Satellite Radio (NASD: SIRI) have agreed to extend their merger deadline, which otherwise would have expired on May 15.

The companies said that the agreement will be extended in rolling two-week periods, unless either side decides to pull out.

The Department of Justice granted its approval in March.

Both companies announced on Tuesday that they would postpone their upcoming annual meetings, pending a decision by the FCC.

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