Apple and Sirius to develop satellite iPod?

You know how we love any dubious and unconfirmed rumor-mongering we can get our hands on here at
TUAW. Here's the latest:
Apple may be talking with Sirius Satellite Radio about developing an iPod that acts as a satellite radio receiver.

The idea itself has already been circulating. There's also some healthy debate about whether or not Apple wants to mess with providing subscription-based services. What's the verdict? Is this rumour bunk or bank?

I could see this happening, and I could see myself wanting one. It would be nice to think of my iPod as my 'music hub'
that centralizes all the various formats of music I like to listen to. Whether it's an MP3 or a podcast or a radio feed
- it's all audio, and it would be great to serve it up from one device instead of several. Adding satellite radio to the iPod would give me portable access to new music, which would rock. Literally.