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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NLp1DrjY/9PU/Rn4/z0fcIZZKSRt9XSoQDMP94d8B50RED6dzh23sTE0qr9fWQz1
 UQ1zX6ZQs4MjFwy8h6EkTw==

<SEC-DOCUMENT>0001179110-10-000054.txt : 20100104
<SEC-HEADER>0001179110-10-000054.hdr.sgml : 20100101
<ACCEPTANCE-DATETIME>20100104144502
ACCESSION NUMBER:		0001179110-10-000054
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20091231
FILED AS OF DATE:		20100104
DATE AS OF CHANGE:		20100104

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Gharapetian Allen
		CENTRAL INDEX KEY:			0001462384

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21123
		FILM NUMBER:		10501583

	MAIL ADDRESS:	
		STREET 1:		C/O SRS LABS, INC.
		STREET 2:		2909 DAIMLER STREET
		CITY:			SANTA ANA
		STATE:			CA
		ZIP:			92705

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SRS LABS INC
		CENTRAL INDEX KEY:			0001016470
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				330714264
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2909 DAIMIER ST
		CITY:			SANTA ANA
		STATE:			CA
		ZIP:			92705
		BUSINESS PHONE:		9494421070

	MAIL ADDRESS:	
		STREET 1:		2909 DAIMLER ST
		CITY:			SANTA ANA
		STATE:			CA
		ZIP:			92705
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001016470</issuerCik>
        <issuerName>SRS LABS INC</issuerName>
        <issuerTradingSymbol>SRSL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001462384</rptOwnerCik>
            <rptOwnerName>Gharapetian Allen</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SRS LABS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>2909 DAIMLER STREET</rptOwnerStreet2>
            <rptOwnerCity>SANTA ANA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92705</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>VP Marketing</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>7.33</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2009-12-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>32000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2010-12-31</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2019-12-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>32000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>32000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Nonqualified stock option grant under the SRS Labs, Inc. 2006 Stock Incentive Plan.  The option shall vest as follows:  1/4th to vest one year after the date of grant and 1/16th every three months during the next three successive years thereafter measured from December 31, 2010.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Allen Gharapetian</signatureName>
        <signatureDate>2010-01-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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