I may also add, you may also get out with replacing the entire CD player with a proper aftermarket setup, one that has iPod control and satellite radio ability. Many folks will have varying opinions on brand name recommendations, I've personally always been a fan of Alpine, the units around 300 bucks nowadays have decent power output, and build in crossovers. In my opinion, the stock speakers would do well with a high pass filter set to about 50 Hz, add a sub to the trunk if you enjoy the low end...really depends what you listen to and how loud ;-)
If you decide to "upgrade" the CD player you may lose the steering wheel controls, depends on what you go with, FYI, not sure on your familiarity with aftermarket but there is a direct correlation to "get what you pay for" and your satisfaction. If you chip in about 800 nowadays you can get a proper aftermarket dual din size unit, GPS, sat radio, HD radio, bluetooth, etc....which would look really cool in an S60 dash
I found the below photo on a google search just to show what I was talking about, photo is not my property ;-)
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