"Apple radio"

While driving yesterday the local radio station that I was listening to was playing some great music. I thought to myself I wish I could record this segment of their broadcast. Apple should consider doing radio. Streaming local live radio with the option to record their broadcast. Kind of how the dvr does it. The recording can save on I cloud and you can listen to it on any of your devices whenever you want. Also some kind of apple aux device would be have to be made so you can use it with current car stereo systems. Do guys think that this can be done?