Internet radio streams are online versions of radio stations. You don’t have to use a car stereo or AM/FM tuner to listen anymore, because if a station is broadcasting online, you can probably listen to it on iTunes. And like most other media players, iTunes can stream live music, weather, news, police radio, and podcasts.
How to Add Radio Stations to iTunes: iTunes Help
Once a stream is added to iTunes, it will be placed in its own "Internet Songs" playlist and will function just like any other playlist in your iTunes library. Here's how to add a radio station to iTunes.
Not all radio stations stream live, but you can search for radio stations that do. Once you find one, copy the URL for that stream.
With iTunes open, navigate to File > Open Stream. You can also use the keyboard shortcut Command+U on a Mac or Ctrl+U on a PC.