LightSquared bagged a Long Term Evolution (LTE) deal with Cellular South Wednesday as its wholesale 4G client list grows.

The latest deal is a "bilateral roaming agreement" with the small carrier. The agreement should provide subscribers with nationwide 4G LTE, as well as satellite coverage in rural areas where there is no terrestrial network.

LightSquared has said that it expects to start commercial LTE service by the end of the year. It is mandated by the Federal Communications Commission (FCC) to cover 100 million people in the U.S. with 4G service by the end of 2012.

Why this matters
LightSquared has been increasing the pace at which it signs up new wholesale customers in the last month. New deals with big providers, such as the rumored deal with Sprint Corp. (NYSE: S), will be an important kick-starter for LightSquared's plans, including a possible IPO.

For more
Click below for more on LightSquared's deal-making:

• Sprint/LightSquared Deal Expected Soon
• Report: LightSquared Mulling IPO
• Cablevision Also Kicking LightSquared's Tires?
• Rumor: TW Cable Talking With LightSquared
• CTIA 2011: LightSquared Leaps Into Best Buy Deal
• Cricket Leaps Into LightSquared's LTE
• LightSquared, Open Range Partner
• MetroPCS Hints at LightSquared LTE Deal

— Dan Jones, Site Editor, Light Reading Mobile