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Google has been working on Google Music for some time and its being rumored that Google will be introducing Google Music in November. Google seems to be insisting that the launch occur before the end of the year. Andy Rubin, the lead for Android is said to be negotiating deals with music providers to get access to atleast 27,000 songs.
Google had already struck deals with major labels however wants to get the rights for independents also. This latest rumor is based on the speedy deals being made by Google Music which could imply a very close launch date. Google music could go live by as soon as November or December.
The features and information about the service are yet to be known however it is believed to be a per-track store along with a streaming service. Google Music is also said to be device independent i.e: be able to start download on your Android phone from your PC.
While all this is happening, Apple is about to launch its cloud-based iTunes to compete against Google Music. You can find out more here.