Should You Buy Sirius XM Stock Before July 30?

SiriusXM Holdings (NASDAQ: SIRI) has been one of the quiet winners within the Berkshire Hathaway portfolio thus far in 2026, with the stock price up 54% as of this writing.

That price run-up, however, may have many wondering if there's still upside for Sirius. It's expected to report its 2026 second-quarter earnings on July 30, so we'll see an update soon that could determine the stock's short-term direction.

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What to look for in earnings

Sirius has become a mature business, so in its earnings reports, the total number of paid subscribers is less important than it used to be. Instead, it's more important to look at free cash flow, if capital expenditures are decreasing as expected, and if full-year guidance is reaffirmed or even boosted.

In April, however, something intriguing was announced that could have a longer-term impact on the stock price than anything likely to be reported on July 30.

Becoming a hub for audio advertisers

As mentioned above, looking at paid subscriber counts is less important because there isn't any growth happening. In fact, Sirius lost 111,000 self-pay subscribers (someone paying for a subscription themselves or an automaker that is paying for the subscription for three years or longer) in the first quarter of 2026, an improvement from the 192,000 it lost in the prior year.

Sirius is, however, finding diversified revenue growth opportunities that can offset those subscriber losses, one of which is in handling the advertising for other companies.

In April, SiriusXM announced a partnership with YouTube to manage its audio ads in the U.S. While YouTube, owned by parent company Alphabet, is known for its video content, it also offers audio-first content, including music, talk shows, and podcasts. Sirius will manage the process of placing advertisers in those formats for YouTube through SiriusXM Media and the tech platform AdsWizz, which Sirius also owns.

The direct benefit for Sirius is that it will generate revenue from the deal for handling the audio ad process, which is expected to start in the fall. But Sirius may also see a boost in its own advertising sales from companies that may first want audio ad space on YouTube but then want to expand their reach by placing ads on Sirius stations and the Sirius-owned Pandora platform.

A business shift that could offer lasting results

Despite the recent stock price climb, SiriusXM shares are still down nearly 50% over the last five years. A more competitive entertainment streaming landscape has weighed on the stock, and as we saw in the first quarter of 2026, the company is still losing paying listeners.

That's why the YouTube agreement is so promising, as it can open the door to other audio ad management deals and help Sirius not be so reliant on adding paying subscribers for revenue growth. In announcing the arrangement with YouTube, Sirius wrote: "The landmark partnership with YouTube highlights SiriusXM's commitment to an open, partner-first audio advertising ecosystem, continuing to connect advertisers to premium audio content wherever audiences choose to listen.

The July 30 earnings report may determine what happens to Sirius stock over the next few days or weeks. But if Sirius executes on becoming the go-to source for managing audio ad placements and that creates meaningful revenue growth, it can help it continue to dig itself out of the stock price losses it has experienced over the last five years.

Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Berkshire Hathaway. The Motley Fool has a disclosure policy.