Why XM is a better pick than Sirius. Which would you rather buy: Shares of XM Satellite Radio at more than $25 a share, or shares of its biggest rival, Sirius Satellite Radio, at $3.14 a share? ¶ For investors who think that the stock with the less than $5-a-share price must be a deal, remember the old adage that you must always pay up for performance. After all, XM has a track record of steady revenue and subscriber growth, and it consistently meets Wall Street expectations. ¶ Surprise! Sirius (SIRI: news, chart, profile) shares cost 50 percent more than XM, based on 2005 price-to-sales on fully diluted shares. Sirius trades at 26.2 times projected sales. XM (XMSR: news, chart, profile) trades at 17.5 times projected sales. That means Sirius might have to take in an extra $90 million above the $182 million in 2005 revenue Wall Street already expects, just to be as good a stock deal as XM. ¶ XM appears to be as much as a year closer than Sirius to turning a profit and generating free cash flow that can be reinvested, distributed as dividends, or used to buy back stock. Yet it is the comparative bargain. [CBS.MarketWatch.com]