Sirius XM (NASDAQ: SIRI - News) has until the spring to comply with Nasdaq standards, but a stock rally isn't the only option.

Last week Sirius disclosed that after closing for less than $1 a share in 30 straight trading sessions, the Nasdaq exchange gave it a "minimum bid" warning. If the stock doesn't regain compliance by March 15, Sirius will be delisted, according to coverage by Barrons. At a current value of $0.65 per share, it would require a more than 50% run to make it above the dollar mark, which while possible, is a rather daunting objective.

Fortunately, Sirius has a suitable backup plan in order to virtually guarantee its Nasdaq listing. Back in May, shareholders approved a reverse split in the range of 1-for-10 to 1-for-50, which the company said would put it back in compliance with the exchange. Even if the company's value dropped another -20%, a 1-for-50 reverse split would put its stock above $25.

As a whole, the Radio Stocks Index is trading fractionally lower today while the broader market takes a dive. The sector remains behind the S&P 500 by -3% over the last month.

Saga Communications (NYSE: SGA - News) and Entercom Communications (NYSE: ETM - News) are up by 5% and 3% respectively in today's session. Both have both more than tripled over the last six months after being crushed in the absence of ad spending during the recession.

Mexican broadcasting company Grupo Radio Centro (NYSE: RC - News) is also up by 5% today on light volume.

The remainder of the sector has turned negative with the market. Cumulus Media (NASDAQ: CMLS - News) is the biggest loser, down -8%. Corus Entertainment (NYSE: CJR - News) and Emmis Communications (NASDAQ: EMMS - News) are both down by less than -3%.

As of this writing, the Radio Stocks Index is one of the 30 worst-performing tickerspy Indexes over the last month, down by -1.4%.

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