According to several reports, including those from the Wall Street Journal and the New York Times, despite the fact that Apple's progress in working out deals with leading music labels for its much-rumored `iRadio' Internet radio service is quite noteworthy, it still is running against time with regard to a deal with Sony Music, especially if it intends announcing the service at the next-week-scheduled Worldwide Developer Conference (WWDC).

The reports come against the backdrop of Apple's Sunday announcement that it has signed a deal with Warner Music Group for recording as well as publishing rights; after having already signed a `recording rights only' deal with Universal Music Group.

With the WWDC event round the corner, unidentified sources have told the media publications that Apple is hustling to work out an agreement with another leading label, Sony Music, and its publishing arm, Sony/ATV, in time to unveil the `iRadio' service at the forthcoming event.

As per the sources, if Apple's iRadio-related agreements with major labels are finalized before the WWDC event, which will commence at 10 am PT on Monday, June 10, the iRadio service will probably be included in both iOS 7 and OS X 10.9.

Meanwhile, noting that Apple's demand for lower royalty rates than those paid by Pandora is seemingly the reason for its hang-up in striking deals, Rutgers University media professor Aram Sinnreich said: "Apple argues that it's the No. 1 music retailer, and that that can be a great front end to drive sales."