Satellite-radio broadcaster Sirius XM Radio rose 7 percent yesterday, the most in four months, after a favorable ruling on how much the company has to pay in music royalties.

The Copyright Royalty Board decided that the rates for Sirius to pay SoundExchange, an organization that collects royalties for musicians, will increase to 9 percent of gross revenue in 2013, from 8 percent this year. Sirius shares closed at $2.91.