According to some latest reports, Apple is working on a new FM radio app for iPhone and iPod touch, which will enable users to listen radio on their devices.

It is also said that iPhone radio app will be integrated with the mobile iTunes Store so that it can be purchased easily, Live pause feature will also be added as well. Apparently this speculation seems fine if we look at the Bluetooth functionality has been provided by Apple with its device with the second-gen iPod Touch, loaded with the 3.0 software.

It’s also interesting to find that there are some reports that iPhone 3GS and the latest iPod touch also have inactive FM transmitter capabilities that can be used to broadcast sound into car stereos.

We should wait for an update from Apple for the confirmation of this news. Apple has always strived for latest features and innovations in its products to stay ahead in smartphone market, so we should expect Apple to add such a feature with its products in near future.