Howard Stern New Sirius XM ContractHoward Stern fans will be rejoicing to the news that the "King of All Media" will be staying right where he's been for the past five years -- on Sirius/XM satellite radio -- for the next five years.

The news broke this morning during Stern's daily radio show. "If we're going to stay in radio, we should stay here," Stern said on the air. "We're in an incredible position and suddenly there's real growth. It's a real business."

Stern wasn't talking numbers, but had ranted against Sirius CFO David Frear earlier this week who had hinted that Stern would have to take a pay cut. Possibly knowing a deal was imminent, Stern had apologized to Frear on and CEO Mel Karmazin, a long-time Stern colleage, on the air Wednesday.

Contract negotiations had been down to the wire, with Stern and his team having under 10 new shows left before the Christmas break and facing an uncertain future.

Howard had not shied away from discussing his situation on the air and there had been rumors that he was even looking to do a deal with an Internet service including a rumored $600 million deal with Apple, which had appeared unlikely because Steve Jobs' careful monitoring of the types of content that appear in iTunes seemed to clash with Stern's tendency to blurt out the f-word whenever possible.