First, Satanic Verses is a misnomer. The accurate name is Ayat al-Gharaniq al-Ula which means "The verse of the high-flying ones". The title "Satanic Verses" was given by the English missionary Sir William Muir[1]. The story was mentioned by at-Tabari and Ibn Sa'd, two main Muslim historians. However, you have to understand that they didn't mention the story because it was true but because of scholarship. Among Islamic scholars during that era, it was important to record as much information as impossible whether they agreed with it or not and then critique them later for the fear that they might miss something true. And yes, this story has no historical bases and is rejected by almost all exegetes[2]. The verses also do not fit the context of the Chapter or even the time period it was revealed in, since in the same chapter, other verses mock the gods of Quraish. It makes no sense that Muhammed would say these verses to appease to Quraish and then proceed insult them in the next.

[1] Z. Bashier, The Makkan Crucible, 1991

[2] M. M. J. Fischer & M. Abedi, "Bombay Talkies, The Word And The World: Salman Rushdie's Satanic Verses"