With the aim of tapping into the one of the most popular consumer products in the market, Sirius XM Radio Wednesday introduced a $120 dock - XM SkyDock - that virtually transforms Apple's iPhone or iPod Touch into a satellite radio receiver; thereby enabling the users of these devices to listen to premium satellite radio programming!

In addition, the new Sirius dock - which will likely hit the markets this fall - also allows users to flag songs they hear and purchase them via Apple's iTunes software.

Powered via the cigarette adapter of a car, the SkyDock incorporates Sirius's new PowerConnect technology that facilitates installation by tapping into the car's radio system. When an iPhone or an iPod Touch is inserted into the dock, an interface that springs up on the device's screen allows users to change channels, provided that they have a satellite-radio subscription, with a $12.95 basic rate per month.

Though the SkyDock allows subscribers to listen to all XM channels, an additional $4 fee provides them with the "Best of Sirius" package, including Howard Stern's channel and others - like Martha Stewart Living Radio.

The unveiling of the dock clearly reflects Sirius' strategy of working with fierce competition rather than fighting it out. Moreover, highlighting the exceedingly competitive audio-entertainment market, the release of the dock is Sirius' latest attempt to hold on to its market share!