This method works on the n95 as well. It's great!
Here is a little guide I wrote for listening to Sirius or XM on your touch
here is how I was able to run sirius on my ipod touch.
1. Download usirius here
http://www.millardsoftware.com/usirius
2. Make sure in the settings you set your Sirius online username/password.
3. Sign up for free for orb here:
http://www.orb.com
4. Make sure to download and install the orb server to your desktop
5. Once signed in to orb.com on your PC go to open applications and then select audio
6. Under audio select internet radio and then favorite channels and then click add
7. Under Usirius make sure that the server is started and click on URLs
8. In the channel box select the channel you want available to listen to on your touch, then copy the address that shows up in the URL
9. Go back to the orb site on your PC and under the add a custom channel box that should now be open in the name field put in the channel name and and in the path field paste the URL that you just copied from usirius then click submit.
10. It will check the URL then it should show up on the favorite channels list. Note that you must repeat steps 6-10 for every Sirius channel you wish to listen to on your touch.
11. Open safari on your touch, and navigate to orb.com. sign in then click on audio then on internet radio favorites. Now all channels added above should show up.
12. Click on the channel you wish to listen to, then wait a few seconds and you will see a small circular play button appear on the screen, click on that and your channel will load.
You should now hear the channel on your touch/iphone.
Although I have not tested it, there is also a uXM app and I imagine that this would do the same thing for XM subscribers and allow them to listen on the iphone/touch. The only downside is that you cannot see the scroll using this method so you will be unable to tell what song/program you are listening to, but other than that this works great!