Ok, i thought it was odd that the favorites cant be rearranged once loaded.
But they can.
Select the media choice on the upper screen and make sure your on the sat radio mode.
On the left side of the screen , in a list form , you will now see "favorites". Go ahead and select it.
Your existing favorites list should now be displayed in a list format with white stars on the left side of each channel choice.
Touch the star to remove that channel from your existing favoites list. The white star will now be a white out line of a star.
Remove all or some and then reselect your channel favoites in the order you want.
Thats how its done. Hope you can follow my discription of the procedure. Let me know .