In the span of the last four months, the stock price of Sirius XM (SIRI) has jumped from 13 cents to 44 cents. As a reward, Sirius XM has given CEO Mel Karmazin a $250,000 per-year raise. Karmazin’s new base salary will be $1.5 million annually, and his contract will be extended through December 31, 2012, according to a filing with the Securities and Exchange Commission. The same filing also shows Karmazin will receive an option to purchase 120,000,000 shares of common stock, at 43 cents per share, vesting over the next several years. For the latest stock quote on Sirius XM, click here.