IK Sirius' first success was becoming Swedish runners-up in 1918, they followed this up by becoming Swedish champions twice in 1921 and 1922, but they then didn't have any more success in the league until 1926 where they were runners-up and they were also runners-up in 1928. In the 1960s the club came back as one of the strongest in the league, finishing second behind Västerås SK in 1960. They won the title the following year beating Edsbyns IF, but the clubs swapped positions in 1962 with Edsbyns IF taking the crown. In 1966 IK Sirius BK won the league for a fourth time but lost the title to Örebro SK the following year. They regained the title for the 5th and currently last time in 1968 beating Örebro SK in the final match.
In 1992 they gained their only World Cup victory beating Sandvikens AIK 7–0 in the final. In 2008–09 Sirius had their best season in two decades, finishing 3rd in Elitserien and lost to Edsbyns IF in the semi-final off the play-offs.