When the company can show a quarterly result with positive cash flow and sub growth, the SP will react positively. Or, if after app release, it hits huge download numbers and sub growth prior to the next quarterly numbers. Until then, it will react unexpectedly, like the run up to .62 and the subsequent drop to the .30s. All of that movement was not based on hard news of any kind. The iPhone app release will be positive news (as long as the damn thing works and is not a klunker). But, I doubt the formal announcement will do much for SP right now, other than keeping it more green than red for a while. But that's good at any rate.
What I'd love to see would be some unique Chinese programming so China can get SXM via internet and iPhone! Now you're talking gizillions of subs!