Stern will be fine. Sirius XM will be fine. Investors -- while they wait out the process -- will be fine. The stock is now trading for less than 7 times next year's projected earnings with a 5.1% dividend yield. Stern isn't likely to come back to Sirius XM on the cheap, but investors can do so right now.

A promo running on the satellite radio giant is leaning in to the chaos of the Stern show's "cancellation" and teasing that the host himself will reveal all on Sept. 2.

Stern has been recording from his opulent dwellings because he spent much of his $500 million contract on building a property empire.