XmvsiriusAccording to The New York Post, Sirius and XM, both Satellite Radio providers have been working all weekend to work out a merger agreement that could possibly be confirmed today. The Post says that talks are still in process, and that at any point the deal could fall through. If you’re a subscriber of one of these services, this could be a pretty sweet deal.

This is really a win-win situation. Users get more channels, while Sirius and XM save themselves some money. In fact, analysts say that they would be able to save $7 billion a year. That’s certainly not pocket change. With no competition in the world of Satellite radio should they merge, they might run into some problems with the FCC approving the deal. And, according to analyst Robert Peck, the approval could potentially take up to 15 months.

In the mean time while we’re waiting on the deal, Sirius subscribers can sit and listen to Howard Stern or Martha Stewart while XM subscribers can tune in to the start of the baseball season or Oprah.