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Five years down and five more years to go! Howard Stern will be staying on Sirius/XM satellite radio now that the “King of All Media” has signed a new a deal. 

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“If we’re going to stay in radio, we should stay here,” Howard said during his morning radio show today (via PopEater). “We’re in an incredible position and suddenly there’s real growth. It’s a real business.”

The contract negotiations with Stern were not finalized until the very last minute with less than 10 shows left before the holiday break.

On Wednesday, Howard apologized to Sirius CFO David Frear, and CEO Mel Karmazin, on air after he had ranted about having hinted he’d have to take a cut in pay.

Howard’s contract negotiations were discussed openly on his show and he was even rumored to be considering a $600 million deal with Apple.

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But now Howard and his staff know where they’ll be working after the holidays.

The details of the deal have not yet been released, but Sirius/XM announced the exciting news on their site to Howard’s fans.

“Howard announced this morning that he has signed a new five year deal with SiriusXM Radio. Details to follow…”

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