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I put mine next to the power port, using the super stick swivel base. The power cord then plugs into the power port. there is a little interference with the drink holder, but hey thats what the swivel base is for.
I made a mount for my fiancee's XM very similar to ebay item # 5850907046
A little tricky to make, but i folowed their instructions for install and made mine work
Here is my install, its a skyfi2, but you get the idea. Same bracket as mentioned above. It was like 20 bucks at best buy, 20 minute install, works great. You can see where I had it originally by the stick on mount over by the passenger vent. I need to get that off there.
The panavise.com mount (number 751072399) and the swival adpater (number 685-PM) is what I used. No dash removal necessary as it connects on the left-side screw of the cupholder/ashtray of a Super Duty & Excursion.