Sirius XM Radio Inc. (NASDAQ: SIRI) is up today following a strange guidance move. The ink is barely dry from the press release it made on May 4 with a surprise profit. The auto business must be better, because this morning it raised its guidance for 2010.

The guidance was as follows, with a comparison to what was offered up before if available:

• Net subscriber adds seen as 750,000 versus a prior estimate of over 500,000
• Revenue of approximately $2.75 billion versus a $2.7 billion (record) prior
• Pro forma adjusted income from operations to be approximately $575 million versus approximately $550 million prior
• Free cash flow for 2010 to exceed $100 million versus “free cash flow is expected to remain positive for the full year”

In the pre-market the stock was trading as high as $1.14, and was now up 3.2% at $1.11 on over 15 million shares in the first 30 minutes of trading.

The biggest issue here is that it is very rare for a company to raise its prior guidance for the whole year only nine trading sessions later.

Maybe it is the auto business. Maybe it is on higher Howard Stern hopes. Maybe, maybe, maybe. This is odd behavior for an already odd company.

Tell us what you think here. 

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