A satellite of mass M is in a circular orbit of radius R about the...

$2{mv}_{x} = mv$

${v}_{x} = \dfrac{v}{2}$

Similarly ${v}_{y} = \dfrac{v}{2}$

${V}_{net} = \sqrt{{\left(\dfrac{v}{2}\right)}^{2} + {\left(\dfrac{v}{2}\right)}^{2}} = \dfrac{v}{\sqrt{2}}$
As resultant velocity after collision is less than orbital velocity and it's direction is neither radial nor tangential , the combined mass will follow elliptical orbit