Satellite radio is the hottest thing since sliced bread, partly because of its multiple utility. By picking up an XM Radio receiver, it can function as a portable music player, an add-on to your automobile tune factory, or a source of commercial-free content for your home stereo.

Pioneer has always been a recognized leader in the audio department, and the long awaited Inno – first seen earlier this year at CES – will finally start to ship this month.

It’s one of the smallest devices of its kind, at a mere 3.7 x 2.2 x 0.6 inches and weighing just 4.5 ounces. Not only will you be able to access the wide range of live XM content, but you’ll also be able to store up to 50 hours of that stuff on there. Moreover, there’s even room in there for you to plug in MP3s and WMAs from your own library.

There’s a full color 180 x 180 TFT display, and as promised, they’ve kept the price in the $400 range.