Sirius Satellite Radio orders its fifth satellite, dubbed FM-5, from Space Systems/Loral (SS/L), the companies announced June 8.

The spacecraft, scheduled to be completed in the fourth quarter of 2008, will be placed into orbit by a Russian Proton rocket under a previously announced contract between Sirius and International Launch Services, though Sirius did not announce plans to launch its FM-4 satellite, currently in ground storage.

FM-5 will be based on the 1300 platform and carry an X-band uplink and S-band downlink payload. The satellite “will carry a range of technologies, including a 9-meter unfurlable reflector, which will allow for highly-concentrated transmissions to small, advanced device,” the companies said.

“This investment in next generation space technology will improve Sirius’ already exceptional service experience,” Mel Karmazin, CEO of Sirius, said in a statement. “Not only will this satellite support our other three satellites currently in orbit, but it will also improve reception for all Sirius subscribers.”

The total price tag for FM-5, including launch and insurance, is $260 million, Sirius said. Loral has agreed to provide a $100 million vendor financing facility, though Sirius said it has not plans to use the line of credit.