Nope, programming is $9.99 a month, but going up to $12.99 if you don't lock in the lower rate with a pre-pay plan.
The equipment varies in price, but ranges between $80 and $150 for typical XM units.
But the folks I know who use IPODS and other assorted MP3 players average about $15.00 per month in music purchases (either by download fees or by buying CDs at the store). Now I do know folks who "rip" music, but as that is not legal, I won't compare the price to that, but even those people tend to buy at least some of their music, I'd bet the prices are pretty even overall.
MP3 players run from about $99 to about $400, depending on storage capacity, features, etc.