iRadio Lite is a good way to capturing audio from radio stations over the Internet. Integrated easy search engine allows you to find favourite radio by genre or keyword, to choose bitrate and other characteristics.

BroadWave Streaming Audio Server
Stream live and pre-recorded audio over the web with BroadWave streaming audio server. Create your own radio station and broadcast events for listeners over the Internet. It handles all the technical details of serving audio so it can be played in

iRadio
Listen and record thousands of internet radio stations! Relay audio streams. Create your own CDs. Collect and manage downloaded media. Artist title and song name in collected files. Browse through the radio stations selecting on genre and bandwidth.

Computer Internet TV
Enjoy over 4000 stations on your PC or Laptop for free. Very easy to use - no PC knowledge required. No extra hardware needed - just install the software. Watch channels from all over the world. Works anywhere in the world and is 100% legal.

SoundTap Streaming Audio Record for Mac
SoundTap lets you record just about any audio that plays through a Mac OS X to either wav or mp3 format including streaming radio, VoIP calls and Instant Messaging conversations.

MP3 Sound Stream
MP3 Sound Stream makes high quality 56K streaming audio from MP3 or WAV files. Select a file and it will create a web page and Flash animations that stream the audio. It uses LAME compression to produce very high quality output.