Later this year, XM Satellite Radio will roll out its ParkingLink system in four cities. Built in a joint venture with Quixote Transportation Technologies and Standard Parking, the system will utilize GPS and a series of wireless sensors embedded in parking garages and pay lots around the US to transmit data on the number and location of open spots to drivers' in-car displays.

Chicago, Detroit, Los Angeles, and Washington, D.C. will be the first to get the system, starting later this year. By the second half of 2007, XM hopes to expand the system to other major markets. Soon after that the sight of people driving aimlessly around parking lots may be a thing of the past.

[Source: Chicago Business]