Although Sirius Satellite Radio hit its subscriber goals in 2004 and has more than 1.24 million customers today, the company’s adjusted loss from operations increased by $126.1 million to a loss for the year of $456.2 million compared to a loss of $330.1 million reported in the previous year. The company said the increased loss was driven by $98.8 million in increased subscriber acquisition costs, $33.7 million in increased programming and content expenses, increased in sales and marketing, and general and administrative expenses. The overall net loss applicable to common shareholders for the year was $712.2 million compared to a net loss of $314.4 million in 2003.

And while the loss widened, the company did see a boost in its revenues. Sirius reported total revenues of $66.9 million in 2004, compared to $12.9 million in 2003.

In related news, The New York Post reported Jan. 26 that Sirius is in talks with rival XM Satellite Radio for a possible merger, though officials in subsequent news reports denied that information.