Verizon Wireless and Cricket are looking to swap spectrum holdings, according to a recent FCC filing. The proposed license exchange would see VZW's Block A 700MHz holdings in Chicago handed to Cricket for the purpose of LTE service in the second city. Big Red's purported gain has less to do with its burgeoning 4G build out and more to do with increased high-speed wireless coverage, as the bounty of AWS-1 and PCS licenses it might acquire would bolster its extensive nationwide network. The transaction still has to receive FCC approval, but both parties involved appear confident the transfer of radio waves won't raise any red flags for the Commission, nor impact existing subscriber service. That's all she wrote for now, but we'll keep an eagle eye out and update you as this develops. In the meantime, hit up the source below to peruse the application.