Rumor: Cloud-based iTunes delayed until summer

Ever since Apple bought music-streaming service Lala, rumors of a cloud-based solution for iTunes have been floating around. And unfortunately, we don't have any official news on that yet (I know I'd use it -- I already share my library to all of my computers in-house anyway), but we do have more rumors. "Music industry sources" have informed CNET that there is a cloud service in the works, but that it's been delayed until the summer at least. There's no information about why, but apparently the delay came from Apple -- the company told music industry executives that the service wouldn't be ready until the third quarter of this year.

I'll wait -- having an iTunes service that could send my music library to any computer I own (or even my iPhone or iPad -- drool) would be awesome, but of course there must be lots and lots of technical and bandwidth issues to work out at least. So if you are expecting to see a cloud-based service from Apple in the future, you can at least stop frantically refreshing the iTunes page until sometime this summer.