It does not INTERFERE with signals other than thick heavy rain and storm clouds.
As a matter of fact, transmitting across the water is great because there are NO obstacles to block the path of signals, especially line-of-sight frequencies. And some freqs actually can 'skip' off the water as well (after bouncing off the ionosphere)...
GPS is 'line of sight' from GEOSTATIONARY satellites an uses microwave frequencies that extend from 390 MHz to 1550 MHz. The GPS carrier frequencies are in the L band (1227.6 MHz and 1575.42 MHz).
Satellite radio, like XM, uses frequencies 2,332.50 through 2,345.00 MHz and Sirius uses 2,320.00 through 2,332.50 MHz (again, this is microwave band).
Analog cellular phones, 1G, use the frequency range of 824 MHz to 849 MHz to transmit to the cellular base station , and the cellular base station transmits to the analog cellular phone using the frequency range of 869 to 894 MHz. Digital cell phones operate in the 1900-MHz frequency bands
CB radio (AM) is in the 27 MHZ band and is subject to many issues (most noteably the sunspot cycle) as is 10m amateur radio.
Commercial broadcast radio, AM, uses 530 KHz thru 1580 KHz, and FM uses 88 MHz thur 106...and commercial television has it's own band as well....
And there are a gazillion 'marine' frequencies used by boating, shipping, military, etc etc.
Most ALL radio traffic is affected by SUNSPOT activity,and NOT by bodies of nearby water.
Your cellphone can be affected my many things, including interference from other radio sources (harmonics, etc( and you might just find an area where the coverage does not overlap well. There is no basis to this 'claim'.
http://en.wikipedia.org/wiki/Sunspot