An Earth-bound asteroid, dubbed 2013 TX68, could pass well within the ring of communications and GPS satellites that orbit more than 35,000 kilometres above the equator, scientists warn.

"We know the asteroid will miss Earth - but it's possible that it may pass within the range of some orbiting satellites that make the satnav system on your phone possible," said Swinburne University astrophysicist Dr Alan Duffy.

Streaking through space at more than 14 kilometres a second, TX68 is on the way. Credit:The Age

Australia has several satellites in orbit around the Earth, including several owned by telecommunications giant Optus.

"Satellites are tiny targets in the huge emptiness of space - so it would be incredibly unlucky for Australia or any nation to have this asteroid strike them," Dr Duffy said. "That said, a hit cannot be entirely ruled out."