Maybe, but maybe he cut a deal for sirius to re-run the show for it's life span. Also, maybe he cut a deal for that money to be paid out yearly to the show staff that will be unable to gain weekly wages outside of maybe washing dishes.
Do you guys think there's any interest in replaying old shows in perpetuity? The show is too topical for that. It's somewhere between The Daily Show with Jon Stewart (no syndication) and Seinfeld (infinite syndication).
The settlement with CBS was that Stern owns his old tapes. While he is under contract with Sirius XM, only they have the license to air them. When Stern's contract expires, he can do whatever he wants with them, and he can license their broadcast anywhere.
The gray area is that this only applies to the terrestrial radio shows. I'm not sure what the satellite years are bound by, but I would assume that Stern made the same deal from the start, or negotiated it after winning the CBS settlement.