The Polaris Prize just got a little bit more lucrative. Since its inception in 2006, the award for the best Canadian album of the year has been worth $20,000, but thanks to renewed sponsorship from Sirius Satellite Radio Canada, it'll be a bit sweeter for 2011. At $30,000 it's still just a modest bar tab for the more party-hardened super bands out there, but, hey, it's still a 50 per cent increase.

In addition to the added funds for the winner, each shortlisted band will also receive $2000 courtesy of Slaight Music. One suspects that the increased purse has at least a little to do with the fact that the Verge Music Awards got a bit more attention last year, so it'll be interesting to see if this has much impact on anything other than the various bands' wallets.

The Polaris Prize shortlist will be announced July 16th in Toronto.

Original photo by Roger Cullman