Apple is developing a Pandora-like music streaming service that could launch in a "matter of months", according to both the Wall Street Journal and New York Times. The ad supported service will stream via a pre-installed app to the full spectrum of Apple's hardware. PC users may get desktop access. According to the reports, Cupertino has toyed with a paid music subscription service similar to Spotify, but that appears to have been back-burnered for now.
Apple has scheduled a major press event for September 12th. It's unclear if any hint of this new music service will be announced then.