Through the "search" function I seem to have found only a partial answer to this question.

It appears that Pandora will work through an iPhone that is connected to the iPod jack - does that mean that the Sirius/XM app will also work?
Will phone functions (via bluetooth) still work?
Will I be able to control the app via the phone (change stations) while plugged in?
Anyone know what the reception will be like?

Yes, I am aware that the car will "do" Sirius (one of the short-list requirements for this new car) - but I only have 1 life-time subscription, multiple Sirius enabled cars, and I was wondering if I could wrangle a "kill 2 birds" kind of solution.

 

It appears that Pandora will work through an iPhone that is connected to the iPod jack - does that mean that the Sirius/XM app will also work?

Yes, while I don't have the Sirius/XM app, anything that plays sound on your iPhone will pay through the ACM.

Will phone functions (via bluetooth) still work?

Yes, although sometimes I have to re-attempt the bluetooth dockings procedure a few times when I first get in the car.

Will I be able to control the app via the phone (change stations) while plugged in?

Yes, I don't see why not. I navigate around my iPhone while connected to the ACM to select different playlist or artists.

Anyone know what the reception will be like?

I can't help you on this one.

If you are going to mount the phone where you can see it I would suggest a Kuda mount and a passthru dock from DICE Electronics. I bought both on eBay and it gives you a professional looking mount for your phone without doing any damage to your dash or console.

Also the app called "FlickTunes" is superior to the default "ipod" app for seeing album art and title/artist information as you can adjust the font size to make things readable from the drivers position.

Hope that helps.