Apple is in talks to buy online music service Lala if reports from both Bloomberg and Cnet are to be believed.

Although the maker of the iPod has yet to confirm or deny the reports, multiple "sources" close to the matter put it as virtually a done deal.

"The people declined to be identified because talks are still in progress. Investors in Palo Alto, California-based Lala include Boston-based Bain Capital Ventures and Ignition Partners in Bellevue, Washington" report Bloomberg.

Pundits believe that Apple is interested in the company to allow it's own music software package - iTunes - to move away from tracks having to be stored locally on the iPhone, iPod or Mac to a Cloud based system that means users store tracks on a central server accessible as long as that user has internet access.

Lala, which goes up against services like Spotify, and Deezer in the UK and offers users the chance to listen to over 7 million songs online.

Users get to listen to songs in full before they buy them, with the chance to then buy them for as little as 10 cents.

In October, Lala was one of two music services to offer Google search users the ability to find tracks via the search engine's music search offering.

We will keep you posted.