Hold on, when do they charge you for the renewal? I assume at the start of the new term right? They couldn't charge my card, so they disconnected my service, therefore I'm not getting the yearly service worth $60, so again I ask, what do I owe $60 for? This is a TOTALLY different situation from pre-paying for a magazine subscription and cancelling, because you still get those magazines you paid for (whether you read them or not) and if I'm not mistaken, get reimbursed for the magazines you will not be getting after your cancellation.
And Taoman, it's interesting you bring up Sirius' renewal practices. From what I've read, State Attorneys are getting involved now to address their tactics.