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Rumored iRadio to be supported by in-stream advertising; wait, really?

If the rumors are to be believed, one of Apple's announcements at the WWDC keynote on Monday will be a music streaming service. Currently referred to as iRadio, the latest reports suggest that not only are the three big labels now on board, but that Apple will launch it as a free service supported by advertising. Wait, what?

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Apple reported to have Sony Music on board for iRadio, announcement possible at WWDC

Reports are emerging that Apple has signed a deal with Sony Music which gives them the green light to announce their rumored iRadio service at WWDC on Monday. Earlier reports had suggested that Universal and Warner were already on board and that Sony was the last big hurdle to overcome before announcing the service. Before launching anything though, Apple still has Sony's publishing arm, ATV to sign on, though as Peter Kafka at AllThingsD points out, this may be a lot closer:

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Apple reportedly still pushing to launch iRadio at WWDC, Warner now said to be on board

iRadio rumors continue to gather steam, with the latest report suggesting Apple is still pushing to launch the service next week at WWDC. Talks with music company's are said to have been in something of a stalemate in recent weeks and months, but progress is being made according to the New York Times:

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iRadio: Apple could do streaming really well, but they don't have to do it at all

The rumors of an Apple iRadio music streaming service just won't go away. With WWDC just around the corner, many think that we may see something announced in San Francisco—in the very same room Google recently announced All Access. Apple could knock it out of the park if they entered this space, and I'm sure a lot of us would love to see just such an Apple branded service. But a couple of questions still present themselves. Does Apple really need to do music streaming, and what form could it take if they do?

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Apple's rumored iRadio service rumored to be on the verge of signing Universal, Warner

iRadio, the common vernacular for Apple's long rumored streaming-and-maybe-subscription music service, is once again in the headlines this week, this time thanks to a report claiming music giants Universal and Warner are close to signing on. Greg Sandoval of The Verge writes:

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Apple close to deals on Pandora-like streaming service, hoping for summer launch

Apple may soon strike deals with two of the major record labels that would allow them to launch a Pandora-like radio service by this summer. While Apple seems to have made a deal that has them paying the labels less on a per-stream basis than Pandora, Apple’s deal also includes new ways of generating revenue, according to Paul Sloan of CNET.

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Apple once again rumored to be readying an iRadio subscription music service

Once again, just like clockwork, rumors are swirling around an alleged Apple "iRadio" subscription music service, similar to the likes of Pandora and Spotify. These rumors always seem to crop up right before an expected announcement period from Apple -- like spring, summer, or fall, and then disappear when music executives leak that they haven't come to terms on licensing agreements. Which brings us to the latest incarnation, according to the Verge:

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