UPDATE 1-Research in Motion says prevented from Nortel bid

* RIM says blocked from bid on wireless business

* Says prepared to pay around $1.1 bln

* Nokia Siemens has stalking horse deal for business

SAN FRANCISCO, July 20 (Reuters) - Research In Motion Ltd (RIM.TO) said on Monday that bankrupt telecommunications company Nortel Networks had effectively prevented the BlackBerry maker from bidding for Nortel's wireless business.

RIM said it was seeking to be qualified as a bidder in Nortel's auction of its CDMA and LTE wireless technology businesses, scheduled for July 24, but was told it could be qualified only if it vowed not to submit offers for other Nortel assets for a one year.

RIM said it would be prepared to pay roughly $1.1 billion for the wireless business, based on its preliminary review.

Last month, Nortel announced a stalking horse deal to sell the CDMA and LTE businesses to Nokia Siemens Networks for $650 million.

"RIM remains extremely interested in acquiring Nortel assets through a Canadian ownership solution that would serve the dual purpose of keeping key wireless technologies in Canada and extending RIM's leadership in the research, development and distribution of leading edge wireless solutions, but RIM has found itself blocked at every turn," Jim Balsillie, RIM's co-chief executive officer, said in a statement.

RIM said it may also be interested in buying other Nortel assets.

Toronto-based Nortel, once one of the world's biggest technology companies, filed for bankruptcy protection in Canada and the United States in January. (Reporting by Gabriel Madway)