Dedicated to Professor Josef Paldus on the occasion of his 70th birthday.Outer-and inner-valence ionization spectra of CO and N 2 were studied by the SAC-CI (symmetry-adapted-cluster configuration-interaction) general-R method. Fine details of experimental spectra of these molecules were reproduced and quantitative assignments of the peaks were proposed. Both outer-and inner-valence satellites were classified into the shakeup states including the valence or Rydberg excitations. For CO, theoretical satellite spectrum up to 50 eV was presented and the nine bands of 22-50 eV observed by EMS and eight bands of 22-34 eV by XPS (C-K) were characterized in detail. Numerous satellite peaks with distributed intensity were obtained and some of them, especially for bands 4, 5, 6 and 7, were predominantly described by triple-electron processes. For N 2 , the spectrum up to 45 eV was calculated and the complex satellite peaks observed by XPS in the lower energy region 20-33 eV were interpreted. The detailed assignments for the (2σ g -1 ) satellite states in the higher-energy region 33-45 eV were also presented. Keywords: SAC-CI; Valence ionization spectra; Satellite spectra; Ab initio calculations; Photoelectron spectroscopy; Quantum chemistry.Many satellite peaks are usually involved in the inner-valence region of an ionization spectrum. They attracted considerable experimental and theoretical interests since they often provide information concerning electron correlations in molecules. Recently, extensive experimental studies of these peaks have been performed by high-resolution synchrotron radiation photoelectron spectroscopy (SRPES), X-ray photoelectron spectroscopy (XPS), and electron momentum spectroscopy (EMS). In parallel, advanced theoretical methods have also been used for detailed and quantitative assignments of these peaks.