WiiRadio is a SHOUTcast stream player. It can read from thousands of Internet radio streams and play them back on the Wii.

WiiRadio Version 0.7 Early Preview
Watch this video on YouTube.

Changes:

Stream searching is now working again
Stream ripping
Basic local playback (SD/USB) of mp3 files ** Currently only FAT partitions
Album Art if the local file has it
Clean up of visuals and a new mix mode
ProjectM Visuals
New skin and skin design allowing lua scripting
And more ….

http://wiibrew.org/wiki/WiiRadio