It will obviously take a long time for Sirius XM to get to double digits. Revenue would have to spike dramatically from its $3 billion annual pace to justify a $65 billion valuation. However, even skeptics have to admit that Sirius XM continues to take steps in the right direction with every passing quarter. What if Sirius XM had executed a 1-for-10 reverse split when the company's board had approved the consideration two years ago? Would Sirius XM shares be worth more or less than $22.80 with 650 million fully diluted shares outstanding? Before arguing that it would be worth less -- suggesting that Sirius XM would be less valuable than the $15 billion company it is today -- let's go over a few success stories. In defense of reverse splits Move ( NAS: MOVE ) went for a 1-for-4 reverse stock split four months ago. On Nov. 21, every four shares of Move at $1.54 were swapped out for a single share at $6.16. Easy. Zero-sum game!