Pandora may be changing its tune.
The music streaming service is now open to selling itself and is now willing to engage with one-time suitor SiriusXM specifically, people familiar with the matter told CNBC. SiriusXM is expected to pursue a deal, the people said.
One person referred to the situation as being "the first inning of the process," and there is no assurance that Pandora will reach a deal with SiriusXM or other potentially-interested parties.
Pandora's board rejected an informal $15-a-share offer from Liberty's CEO Greg Maffei in July, according to the Wall Street Journal on the belief it could get a higher price elsewhere. After trading above $14 in the wake of that report, Pandora shares fell to near $10 a share this month.
Pandora declined to comment, citing a policy against commenting on speculation. Reuters reported Friday that Pandora is making no new effort to sell itself and is focused on executing its strategy and its operating model. It cited an unidentified source.