According to a report by GigaOM, Apple could be shelling out around $4.5 million to buy the domain name, potentially for the long rumored music locker/streaming service. The icloud domain was recently owned by another company that used the name for an online storage service. It has just re-branded its service to CloudMe.

When you visit it currently redirects to the new domain but shows a banner informing customers of its re-brand from icloud to cloudme!

My source, who is familiar with the company, says that Xcerion has sold the domain to Apple for about $4.5 million. Xcerion hasn’t responded to my queries as yet. At the time of writing, the Whois database showed Xcerion as the owner of iCloud.

We already know that Apple is working on cloud storage and streaming service for iOS devices. Only last week we heard that it has an agreement in place with at least two major recording labels. We expect to hear a lot more about this at WWDC in early June.

Then again, Apple was rumored to be going with iSlate almost up until iPad launched, so is this all part of the name gam

All the bits are starting to fall into place, who's excited?