The Wall Street Journal is reporting that Apple is working on a streaming music service that would give iTunes, Spotify- or Pandora-like functionality. However, the details are scarce at the moment. Here's a Tweet from Dennis K. Berman:

BREAKING: Apple prepping a Pandora-like radio streaming service, WSJ reports. Details on wsj.com soon. $AAPL $P

— Dennis K. Berman (@dkberman) September 6, 2012

It is rumored that Apple will redesign iTunes to make it more streamlined and easier to use; especially in light of its recent Chomp acquisition. According to some reports, it would look similar in appearance to the current UI of the Mac App Store. In my opinion, it would make sense for Apple to add music streaming considering just how popular streaming services like Rdio, Pandora, and Spotify have turned out to be.