I am a newbie and have acquired an '05 SRX that does not indicate that it is XM ready. It is a Canadian vehicle and is equipped with the Bose system, 6 CD changer but no Nav.

I have XM in other vehicles and would like to have it in this one. If needed I would consider changing to a newer radio system, assuming that is possible.

Not sure about the Canadian cars, but I recently tried to help somebody with the very same MY as you.
Hold on, here we go.
The xm tuner is located behind the right rear interior panel. 2 weeks ago I checked the price, over $500 for the tuner. plus you'll need a wire harness to the sharkfin antenna which means you'll have to pull the headliner down for access. And a harness that has to go down the entire right side of the body and plugs into the radio, if the radio is xm 'ready', big if!
Parts and labour you're looking about $1500.00
Get a hardlined, fm modulated, profesionally installed dash mount kit and be done with it. It will run you about 1/2 the oem price.
Or upgrade the system to aftermarket keeping in mind that you are going loose the vehicle information like oil life monitor,tpm, and so forth.
Good luck.

I had a similar situation in an 04. 6 CD Bose, no Nav, no factory XM. I installed an "XM Direct" package (tuner, radio interface module, external antenna and cabling). About $150 for the hardware (purchased online through myradiostore.com), and another $50 to have the dealer flash the radio so that it recognizes the tuner. The unit works just like an original factory installation...two sets of radio station presets (via an "XM1" and an "XM2" band), song/artist info, full functionality of steering wheel radio controls on XM bands, and all information normally available through DIC (tire pressure, oil life, trans fluid, etc). The only visible change is the external XM antenna (as I recall, if your vehicle did not come from the factory with XM, tapping into the factory sharkfin antenna mounted above the tailgate is impractical/impossible). Reasonably easy installation. Deciding where and how to mount the hardware in the space behind the center stack, where best to mount the external antenna, and how to route the antenna wire took some thought.

My dealership would not do the installation. They referred me to a local radio shop that would have installed the unit and done the radio flash for, as I recall, about $300. Once I installed the radio, though, the dealership was happy to do the reflash.

Note that my car is built for the American market. It's possible that this presents a different situation.

As I recall, this type of integrated installation on a non-factory-XM car is not available with Sirius.

What I did is, I believe, pretty common. There is a lot of information on this topic in prior posts. Do a search and you'll find everything you need.

In summary, it's a reasonably inexpensive, clean, fully integrated upgrade that you can do yourself or have done by a radio shop for not too much more.

That is good news sp 2060! Usually when I hear things like this, people are after factory. I know that many dealerships will not reflash radios for fear the customer may hold them liable somehow for 'condoning' such installs.
sgprice, if you can get it done that way, awsome. But the entire thing is contingent on whether or not the dealer will reflash the radio. Look b4 u leap.

One thing about the antenna, I have done two Siruis installs in GMC trucks and not once has the antenna been in the open.

I have had mine like this for almost a year with zero loss of signal, it is under the dash by the base of the windshield next the the light sensor.

So don't be afraid the try the antenna under a panel as it very will may work, the GPS NAV antenna is also in the dash not on the outside.

I have ordered the kit from an online dealer and the local dealership says they can/will do the install. I am not sure about the antenna location as I have tried an antenna on the dash and have found it to not be completely satisfactory. That may be a factor of living in Canada so the satellites are closer to the horizon then in most of the US.

Thanks for the help.

As I said above the antenna under my dash cover works perfect never had an issue, I live in Canada as well so maybe XM is weak compared to Sirius?