Apple was planning to roll out a streaming music service this summer, but has reportedly hit a negotiating bump with Sony Music over some features.

Google already unleashed its Play Music All Access service, but Apple's rumored iRadio service is apparently not ready just yet. Rumors about an iRadio service have been making rounds since October last year and are yet to materialize, and the Cupertino giant neither confirmed nor denied its existence.

According to CNET, Apple hit a rough spot in its negotiations with Sony Music over some of the features it plans to build into its iRadio product. More specifically, the two companies are yet to hit common ground regarding how much Apple should pay for songs that people listen to just for a bit and then skip, "people familiar with the negotiations" told the publication. Neither Apple nor Sony offered any comments on the matter.

Apple's streaming music service is reportedly very similar to popular internet radio service Pandora. Some built-in features give users added control, including the ability to rewind a song and skip to the next track after listening to a fraction of it, added the sources.

Last week Apple also reached an agreement with the world's largest label - Universal Music - and it's reportedly very close to closing the deal with Warner Music Group, CNET's sources further note.

The recorded music industry is rapidly advancing and streaming music is its fastest-growing segment. Apple's offering is designed for the iPhone and linked to iTunes, which means it has the potential to speed up the growth of Internet radio even more. At the same time, Apple's iRadio service sounds very good to some music executives because it includes two other streams of revenue, which means the overall deal should be far better than what labels get from Pandora.

Those two streams of revenue consist of a quick way for consumers to purchase a song they're listening to, as well as a slice of the ad revenue Apple generates. The Cupertino tech giant reportedly plans to develop its iAd business, which may also include audio ads such as those found on Pandora's free service. Should negotiations go well, the rumored iRadio streaming music service should give Pandora a run for its money soon enough.