The first downloaders of SIRIUS XM Radio for the iPhone are reporting that the application does not include certain popular channels including Howard Stern's Sirius channel.  Sirius (NASDAQ:SIRI) posted an explanation on their website:

"SIRIUS & XM offer all of the channels for which we have mobile performance rights. For that reason, certain channels which may be available on your satellite radio or online radio service may not be available on a mobile device like the iPhone."

Sirius stock rose 23% today on nearly 86 million shares traded on word of the application launching on Thursday.  SIRIUS XM Radio can be subscribed to for $3 a month or is free for current subscribers of XM Radio or SIRIUS.  XM Radio boasts of 170 channels while SIRIUS has over 130 channels.  Of that pool of 300 channels, the new iPhone service will have 120 channels, or about 40% of the 300 channels.  There's no word on whether or not Apple Inc. (NASDAQ:AAPL) will expand the service to include more channels in the future.  The Sirius website further states:

"Some select programming, including MLB® Play-by-Play, NFL Play-by-Play, SIRIUS NASCAR® Radio, and Howard Stern, will not be available on the iPhone and iPod touch. Listeners will continue to be able to access that programming through the platforms they are currently offered on."