If you are still griping about the lack of an FM receiver on your beloved iPhone, here’s a solution of sorts. Starting next month, you will be able to download the AOL Radio app designed specifically for the iPhone, which will give you access to more than 200 AOL and 150+ CBS radio stations. The app is designed to work with the first-gen iPhone and the iPhone 3G, so don’t go dropping your plans for that upgrade come July 11th. The AOL Radio application was already showcased at this WWDC and took home the “Best Entertainment Application” award.

The application will be an ad-supported freeware and you will have to wait till next month when it becomes available on the App Store.
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