Even though Iridium's satellites are still in orbit, the company itself most definitely isn't. Satellite telephony proved to be too expensive, especially when the existing telco's were willing to sell phones for their own networks at incredible losses just to win clients.
There are already satellite radio providers such as XM and Sirius, and so far it has not been a very profitable and successful enterprise. I doubt that this is a direction that Apple are likely to want to take.
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