I can see how that would work (using a credit card that will no longer be valid when the renewal date arrives).
My approach is different. I also have not had the issues that others here seem to have had, with getting XM to cancel if that is what I want to do.
To begin with, when I begin a new 1 year term with XM, I recognize that the agreement is that it will auto renew at the anniversary date, and the promotional rate will expire at that time. The agreement also stipulates that if I want to cancel the arrangement, I will contact XM before the renewal date arrives. Those are the terms I agree to, and I think this is how all XM subscriptions work, as far as I know.
If I wait until the renewal date arrives, then I owe the higher rate beginning on that date. That is what I agreed to in the beginning. XM will consider that amount to be due, and if I don't talk to them until the renewal date has gone by, then any discussion is going to first start with an overdue amount that I have agreed to pay, based upon the arrangement I signed up for.
My approach is to contact them before the renewal date has arrived. That gives me the opportunity to either negotiate a promotional rate in order to continue the subscription, or cancel it. I have not had problems with handling XM renewals in this way, for quite a few years. It is a straightforward way to handle this, and it respects the agreement that was made in the beginning.