Whether this is good news or bad news is yet to be seen, but Sirius’ investors allowed the board of directors to do a reverse stock split, that could be 1 for 10, or as high as 1 for 50, to lift the stock price above $1 and avoid delisting from the Nasdaq Stock Market.

Sirius owes almost $1 billion in loan repayments due next year, including $209 million in convertible bonds maturing in February. The move, which will mean selling new shares could give Sirius the means to meet these needs.

The latest U.S. recession that has really constrained consumer borrowing and spending. Especially for cars, which Sirius has come to depend on for new subscribers. Mel Karmazin said in August that Sirius XM could weather a decline in auto sales because carmakers were putting radios in a greater proportion of vehicles. This is true, but if the consumer isn’t buying up the cars in the first place, it doesn’t really matter. Sirius also completed laying off 450 workers.

Sirius’ share price was a lofty .12 at close on Friday.