Sirius XM Radio has made industry news this week with the company’s recent decision to put some $250 million in Senior Secured Notes on sale as part of an effort to dissolve the business’ substantial debt.

The Notes (due 2015) are offered to qualified buyers and will be used to help Sirius XM out of the mountainous debt sustained by the company after being saved from buyout by Echostar last February.

Liberty Media currently holds equity in Sirius XM Radio due to the $530 million invested by the latter company as part of a deal that saved Sirius’ from transferring ownership in the last moments of the impending buyout.

[Via Orbitcast]