Sirius XM Radio CEO, Mel Karmazin has been exchanging SIRI common stock in an effort to work down the company’s mounting debt. The move is part of a larger corporate strategy aimed at ensuring the financial viability of the satellite radio business throughout the economic crisis.

Karmazin has been able to trade 100 million shares of SIRI stock for a substantial $13 million of cash toward reducing the corporate debt.

Even with this example of forward progress, Michael Hartleib and the Save Sirius shareholders coalition have been agitating Sirius XM Radio for documents related to the business merger and the recent transaction.

[Via Orbitcast]