XM Satellite Radio said it is raising the cost of its basic monthly service package to $12.95 per month, $3 more than the current per-month charge. However, existing customers will have the opportunity to lock in the $9.95 rate for up to five years through prepayment options. The new pricing terms also include access to XM’s music online (XM previously charged $3.99 per month for this service) and the High Voltage channel (previously an additional $1.99 per month) at no additional charge. Shock jocks Opie and Anthony host a talk radio show on High Voltage.

“This new pricing approach will help fund future technology development, enable us to offer more attractively-priced radios and maintain our programming excellence,” XM President and CEO Hugh Panero said in a prepared statement.