Warner, XM in talks to settle suit-source

NEW YORK, Dec 17 (Reuters) - Warner Music Group Corp (WMG.N) is in talks with XM Satellite Radio Holdings Inc XMSR.O to settle a lawsuit related to portable radios that can record music, and expects a settlement soon, a person close to the talks said on Monday.

"You can probably expect a resolution fairly shortly," said the person who asked not to be named.

XM Satellite said on Monday it had settled a similar lawsuit filed by Universal Music Group (VIV.PA) against XM Satellite's portable "Inno" devices that can record and store music. (Reporting by Sinead Carew; Editing by Jeffrey Benkoe)