Howard Stern's SiriusXM radio show is likely to be axed later this year, according to several media reports.

According to The Sun newspaper, SiriusXM have decided not to renew his $100 million contract, which ends later this year.

Their report states:

"Stern's contract is up in the fall and while Sirius is planning to make him an offer, they don't intend for him to take it," one insider said of the impending end to the shock jock's latest five-year contract.

"Sirius and Stern are never going to meet on the money he is going to want. It's no longer worth the investment."