FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* SK TELECOM CO LTD (Last) (First) (Middle) 11 EULJIRO 2-GA JUNG-GU (Street) SEOUL M5 100-999 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 08/22/2008	3. Issuer Name and Ticker or Trading Symbol Virgin Mobile USA, Inc. [ VM ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	193,368	I	Through subsidiary(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Units	08/22/2008	(2)	Class A Common Stock	10,999,373	(3)	I	Through wholly owned subsidiary(4)
Series A Preferred Stock	(5)	(6)	Class A Common Stock Common Stock	2,941,176	(7)	I	Through wholly Owned subsidiary(8)

Explanation of Responses:

1. SK Telecom Co., Ltd. beneficially owns shares of Virgin Mobile USA, Inc. Class A Common Stock through Helio, Inc., the board of which it currently controls.

2. Not applicable.

3. 1-to-1 conversion ratio.

4. SK Telecom Co., Ltd. beneficially owns, through its 100% owned subsidiary SK Telecom USA Holdings, Inc., common units of Virgin Mobile USA, L.P. that are convertible immediately at the option of the holder into 10,999,373 shares of Class A Common Stock of Virgin Mobile USA, Inc.

5. The Series A Preferred Stock will become convertible after 18 months from issuance, upon stockholder approval.

6. The Series A Preferred Stock becomes mandatorily convertible upon the earlier of (i) four years from the date of issuance and (ii) such time as the market price of the issuer's Class A Common Stock exceeds $8.50 per share.

7. 1 share of Series A Preferred stock converts to 117.64706 shares of Class A Common Stock, subject to customary adjustments.

8. SK Telecom Co., Ltd. also beneficially owns, through its 100% owned subsidiary SK Telecom USA Holdings, Inc., shares of Series A Preferred Stock of Virgin Mobile USA, Inc. that are convertible, subject to stockholder approval, into 2,941,176 shares of Class A Common Stock of Virgin Mobile USA, Inc.

Remarks:

	/s/ Michele Maney, attorney-in-fact	09/09/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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