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Cognitive radio networks(CRN) are newly proposed wireless communication technology to improve the spectrum utilization so that increasing communication demands can be better fulfilled. This paper undertakes stochastic performance analysis of cognitive radio networks with parallel Markov modulated On-Off channels by using stochastic network calculus. Specifically, the arrivals of users are governed by a Markov Modulated On-Off process, as well. Then delay bounds for primary and secondary users are derived. Finally, numerical results are shown for different types of traffic, which prove the effectiveness of the framework.