Shares for Sirius Radio soared more than 10% after Howard Stern said he had agreed to a new five-year deal.

The shock jock broke the news to listeners on his show early Thursday, but declined to reveal the terms of the new contract other than to say it included distribution beyond radio.

"I am especially excited that my show will now be heard through SIRIUS XM on mobile devices. Access to my show on mobile devices will open up additional opportunities for my fans to hear me wherever they are," Stern said in a press release Thursday.

The news comes as Stern's five-year $500 million contract was set to expire at the end of this month. The new pact ends months of speculation about Stern's plans.

More Information: http://www.thestreet.com/_yahoo/story/10942728/1/howard-stern-stick-with-sirius-report.html