XM Satellite Radio said May 16 that it surpassed 4 million subscribers.

“By adding one million new subscribers in less than five months, XM clearly is the fastest growing satellite radio company,” XM President and CEO Hugh Panero said in a prepared statement. “Our tremendous subscriber growth is a testament to XM’s ever-increasing momentum and we look forward to hitting our target of 5.5 million subscribers by year’s end.” Panero also reiterated the company’s goal of hitting 20 million subscribers by 2010.