I like the aspects of Terrestrial Radio and Internet Radio... that is they are FREE. Satellite Radio is not a free service, so already they are behind the 8 ball, and then add in the economy down fall, I'd say that Satellite's days are numbered. If I can get my favorite Internet Radio stations in my car radio, then Terrestrial Radio may be in a bind as well if they are not already streaming on the Internet. I really can't see people abandoning the high quality sound of their FM Stereo system for the tinny sound coming out of their cell phones. Especially if the cell phone company want's to charge us by the minute for that feature. However, if they put that technology in to Car Stereos and Portable Stereos (boom boxes, not cell phones) then I could see that winning out in the long run, especially if the consumer doesn't have to pay a subscription or a monthly usage charge for the service.
I see it as Satellite Radio, unless it comes up with other funding, or makes it's self more desirable, it's going to fall out of the sky. Terrestrial Radio would do well to make sure they have their foot in the door when it comes to Internet Radio. This is opportunity knocking at the door for them, and they should answer it quickly. Internet Radio has yet to get decent revenue stream established, yet when compared with the likes of Satellite and cable, these royalties are taxing Internet Radio to death (especially with SoundExchange). Terrestrial Radio should step in and stick up for Internet Radio, as it looks as if that is their future as well. If they let it become no mans land, then only the record companies will be able to afford to stream on line, and you can bet they won't want Terrestrial Radio to be the middle man standing in the way of their profits.
Of course, those are just my thoughts.