Yeah, heard of 'em. Right now, I think most units start around 300 bucks minimum. Like most technologies like this, they will go down in price before long. The concept of the satellite phone (portable and commercial) came out a few years ago with Iridium but have decreased in price by about 80%.
Other than that, I haven't looked into them. The "XM" technology IS the radio, so I don't know if they'll give you the capability to tune in regular radio as per your 3-way (tee-hee[img]/wwwthreads_images/icons/smile.gif[/img][img]/wwwthreads_images/icons/wink.gif[/img]) question. I can almost guarantee they will come with CD players too, though. That technology is already there, and no one would normally want anything else.
I see your problem. Getting that radio would be the equivalent of satellite TV right now. Plenty of channels to keep you busy, but local stations don't exist on it anymore. You're at the mercy of their programming.
I have no idea about monthly charges, but I am a satellite buff, and from what I've read, that couldn't be the case here. Think of it as a super radio pulling in a broad range of channels over a higher frequency range from a big transmitter in the sky. You have the box in your dash, and as long as the birds don't malfunction, you'll get a good signal. I know there are only 2 satellites, and I think it's only made for roughly a North American clientelle right now. That means they are in a geo-synchronous orbit at the least and will always cover our entire country at all times.
If you get one, let me know how you like it.