In Liberty's earning call in early August, CEO Greg Maffei had hinted at an " opportunity for share repurchase " at Sirius XM. Barclay's analyst estimated a possible buy back worth $1.1 billion-$2.9 billion by 2013. The company has operating cash flows of $623 million (trailing twelve months) and total cash of $868 million. This means that the company might have to take on debt if it is to repurchase roughly more than $1 billion plus of shares.