TUAW has been watching users' need to stream music from the cloud for a while, especially since Apple acquired Lala some time ago. Understandably, we were a little disappointed when we found out that an official cloud-based iTunes would probably be limited in scope.
This roller coaster of emotion leaves us especially excited to see mSpot Music hit the App Store. The mSpot service allows you store your iTunes collection on the Web in what mSpot calls your "music locker." Once you've put that music online, you can stream it to your computer, iPad or iPhone. Your music lives in the cloud on mSpot's service and is simply played on whichever device you'd like.
Storage for your music is free up to the first 2GBs, which translates to about 1,600 music files. You can pay $3.99 a month for 40GBs of music, if you find the first 2GBs inadequate.