DirecTV and Dish Network -- two longtime rivals that have explored joining up at various times for decades -- may be headed to the altar.

Shares of Dish Network parent EchoStar surged on heavy trading volume Friday on reports of a merger agreement could soon be reached between Dish and satellite TV rival DirecTV. With an hour left in the trading day,

DirecTV and Dish Network are in advanced talks to merge, potentially creating the largest U.S. pay-TV provider with 20 million subscribers, as both companies face increasing competition from streaming services.