UPDATE: Trading should be normal and investors should be able to buy or sell as they normally would. The ticker, SIRI will remain the same. The only event that has caused confusion by some is that due to the name officially changing to Sirius XM last night. Because of this, a new CUSIP number, 82967N108 has been assigned to the stock.
It is suggested that if you are having a problem, it may be due to your specific broker. Trading can continue as normal because of the fact that the symbol has not changed.
You may have noticed that your SIRI shares are unavailable for trading at the current time. I just spoke with a representative of TD Ameritrade. According to TD Amertitrade's Reorganization Department, they are waiting for the new Sirius XM shares to be delivered. Accordingly, they report that this could take anywhere from 5-7 days to complete, possibly longer.
As for a ticker change, they are not sure as the new shares have yet to be delivered.
I inquired as to how 4 million shares had already traded at the time of our conversation. After following up with another department, he explained that some new shares have begun to trade.
Scottrade reports that it can take from 2-7 days to begin trading again.