Ask anyone on the internet what they expect from tomorrow's iTunes-related announcement, and most will say "iTunes streaming" or "Cloud-based" service, of course one could open the possibility for the other.
According to a report from Consomac, a property list file within iTunes 10.1 mentions an "iTunes Live Stream URL."
Right now, as is being reported, many can only speculate what a live stream may actually be: 1) Streaming live music to your iOS device? 2) Live video feeds of concerts or TV events?
We've seen Apple test their live streams in recent history, with their press events. We will know for sure tomorrow.
[Image and original finding from Consomac (via Google Translate)]