<PAGE>
EXHIBIT 99.2
NOTICE OF GUARANTEED DELIVERY
XM SATELLITE RADIO INC.
OFFER TO EXCHANGE
14% Senior Secured Notes due 2010 for any and all outstanding 14% Senior Secured
Notes due 2010
Pursuant to the Prospectus Dated _________ ___, 2000
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THE EXCHANGE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY
TIME, ON __________ ___, 2000 (THE "EXPIRATION DATE"), UNLESS THE EXCHANGE OFFER
IS EXTENDED BY XM SATELLITE RADIO INC.
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This form or one substantially equivalent hereto must be used by a holder
of Old Notes (as defined below) to accept the Exchange Offer of XM Satellite
Radio Inc. (the "Issuer") and to tender Old Notes to United States Trust Company
of New York, as exchange agent (the "Exchange Agent") pursuant to the guaranteed
delivery procedures described in "The Exchange Offer -- Procedures for Tendering
Outstanding Notes -- Guaranteed Delivery" of the Issuer's Prospectus dated
________ ___, 2000 (the "Prospectus") and in Instruction 1 to the related Letter
of Transmittal. The Exchange Offer provides holders of the Issuer's outstanding
14% Senior Secured Notes due 2010 (the "Old Notes") the opportunity to exchange
such Old Notes for the 14% Senior Secured Notes due 2010 offered pursuant to the
Prospectus (the "Exchange Notes"), which Exchange Notes have been registered
under the Securities Act of 1933, as amended (the "Securities Act"), pursuant to
a Registration Statement of which the Prospectus is a part. Any holder who
wishes to tender Old Notes pursuant to such guaranteed delivery procedures must
ensure that the Exchange Agent receives this Notice of Guaranteed Delivery prior
to the Expiration Date of the Exchange Offer. Capitalized terms used but not
defined herein have the respective meaning given to them in the Prospectus.
United States Trust Company of New York, Exchange Agent
By Mail: By Hand before 4:30 p.m.:
United States Trust Company of United States Trust Company of
New York New York
P.O. Box 843 111 Broadway
Cooper Station New York, New York 10006
New York, New York 10276 Attn: Lower Level Corporate Trust
Attn: Corporate Trust Services Window
By Overnight Courier and By Hand
By Facsimile: after 4:30 p.m.:
(212) 780-0592 United States Trust Company of
Attn: Customer Service New York
Confirm by telephone: 770 Broadway, 13/th/ Floor
(800) 548-6565 New York, New York 10003
Originals of all documents sent by facsimile should be sent promptly by
registered or certified mail, by hand or by overnight delivery service.
Facsimile transmission is available to a member firm of a registered national
securities exchange, a member firm of the National Association of Securities
Dealers, Inc., a commercial bank or trust company having an office or
correspondent in the United States or an "eligible guarantor institution" within
the meaning of Rule 17Ad-15 under the Securities Exchange Act of 1934, as
amended (the "Exchange Act") (an "Eligible Institution").
DELIVERY OF THIS NOTICE TO AN ADDRESS OR TRANSMISSION OF INSTRUCTIONS VIA
FACSIMILE OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY.
THIS NOTICE OF GUARANTEED DELIVERY IS NOT TO BE USED TO GUARANTEE
SIGNATURES. IF A SIGNATURE ON A LETTER OF TRANSMITTAL IS REQUIRED TO BE
GUARANTEED BY AN ELIGIBLE INSTITUTION UNDER THE INSTRUCTIONS THERETO, SUCH
SIGNATURE GUARANTEE MUST APPEAR IN THE APPLICABLE SPACE PROVIDED ON THE LETTER
OF TRANSMITTAL FOR GUARANTEE OF SIGNATURES.
<PAGE>
Ladies and Gentlemen:
The undersigned hereby tenders to the Issuer, upon the terms and subject to
the conditions set forth in the Prospectus and the related Letter of
Transmittal, receipt of which is hereby acknowledged, the principal amounts of
Old Notes set forth below pursuant to the guaranteed delivery procedures set
forth in the Prospectus and in Instruction 1 of the Letter of Transmittal.
<TABLE>
<CAPTION>
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DESCRIPTION OF OLD NOTES TENDERED
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<S> <C> <C>
Certificate Number(s) (if known) of Old Aggregate Aggregate
Notes or Account Number at the Book-Entry Principal Amount Principal Amount
Facility Represented Tendered
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TOTAL
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</TABLE>
<TABLE>
<S> <C>
Principal Amount of Old
Signature of Registered Holder(s) or Authorized Signatory: Notes Tendered: $_________________________________________
Date:_____________________________________________________ Certificate Nos. (if available):
Name(s):__________________________________________________ __________________________________________________________
__________________________________________________________
Total Principal Amount Represented
__________________________________________________________ by Old Note Certificate(s):
$_________________________________________________________
Address:__________________________________________________
__________________________________________________________ CHECK IF OLD NOTES WILL BE TENDERED BY
BOOK-ENTRY TRANSFER
__________________________________________________________
[_] The Depository Trust Company
__________________________________________________________
Zip Code Account Number:___________________________________________
Area Code and Tel. No.(s):________________________________
__________________________________________________________
(Please Type or Print)
</TABLE>
THE GUARANTEE ON THE FOLLOWING PAGE MUST BE COMPLETED
<PAGE>
GUARANTEE
(Not to be used for signature guarantee)
The undersigned, being an Eligible Institution, hereby guarantees deposit
with the Exchange Agent of either (i) the Letter of Transmittal (or facsimile
thereof), properly completed and duly executed, with any required signature
guarantees, together with the Old Notes tendered hereby in proper form for
transfer (or confirmation of the book-entry transfer of such Old Notes into the
Exchange Agent's account at the Book-Entry Transfer Facility described in the
Prospectus under the caption "The Exchange Offer -- Procedures for Tendering
Outstanding Notes -- Guaranteed Delivery" and in the Letter of Transmittal, in
proper form for transfer), and any other required documents, or (ii) a properly
transmitted Agent's Message as described in the Prospectus under the caption
"The Exchange Offer -- Procedures for Tendering Outstanding Notes," as the case
may be, all by 5:00 p.m., New York City time, within three New York Stock
Exchange trading days following the Expiration Date.
_________________________________ _________________________________
Name of Firm Authorized Signature
_________________________________ _________________________________
Address Title
_________________________________ Name:____________________________
Zip Code (Please Type or Print)
Area Code and Tel.No.:___________ Dated:___________________________
<PAGE>
NOTE: DO NOT SEND OLD NOTE CERTIFICATES WITH THIS FORM. ACTUAL SURRENDER OF
OLD NOTES MUST BE MADE PURSUANT TO, AND BE ACCOMPANIED BY, A PROPERLY
COMPLETED AND DULY EXECUTED LETTER OF TRANSMITTAL AND ANY OTHER
REQUIRED DOCUMENTS.
