Yes, using Aux-in you can listen to an XM radio like the Roady 2 through your radio and use the steering wheel controls for the volume. I did it on my 2004 but got bored with XM, found that a thousand songs on my iPod in shuffle mode had the same effect but $10/mo cheaper.
If you get Sirius from MB then you can see the song name on the dash and radio and change streams from the steering wheel control but it's about $1K installed.