MySpace MP3 Player in the Works?

Is there a MP3 player in the works for popular social networking Web site MySpace? It is reportedly a distinct possibility for the future, says MySpace co-founder and Chief Executive Chris DeWolfe.

DeWolfe, quoted in a Reuters article, told a moderator at a conference that ""It's possible" that MySpace, which recently launched a music joint venture with major music labels, could eventually build a device for listening to music." He added though there are no "immediate plans" for such a product.

The popularity of the MySpace music service is soaring, though it has yet to be as popular as Apple's iTunes offering. The idea of a MySpace MP3 player down the line seems intriguing, but it would have to be capable of letting you stream audio directly from the MySpace service via wireless Internet and also let you pay for and download audio for non-connected times to be most effective against the iPod.