Hi everyone,
I think, all of you heard about live audio/video streaming. I'm going to share "Live Audio Streaming" example with you.
Please check this :
Step 1: First of all, you have to download these two files(
AudioStreamer.h, AudioStreamer.m) from 
http://code.google.com/p/audiostreamer-meta/source/browse/trunk/Classes
Step 2: Add necessary frameworks and above two files into your project. 
Step 3: Implement below code to your project file.
@class AudioStreamer;
@interface CallerTuneListViewController : UIViewController
{
    AudioStreamer *streamer;
}
#import "CallerTuneListViewController.h"
#import "AudioStreamer.h"
#import <QuartzCore/CoreAnimation.h>
#import <MediaPlayer/MediaPlayer.h>
#import <CFNetwork/CFNetwork.h>
#import <AudioToolbox/AudioToolbox.h>
@implementation CallerTuneListViewController
#pragma mark ---------------------------------
#pragma mark View LifeCycle
-(void)viewWillDisappear:(BOOL)animated
{
    [super viewWillDisappear:animated];
    if ([streamer isPlaying]) {
        [self destroyStreamer];
    }
}
#pragma mark ---------------------------------
#pragma mark Memory Management
- (void)dealloc
{
    [self destroyStreamer];
    [super dealloc];
}
#pragma mark ---------------------------------
#pragma mark UIButton Actions
-(IBAction)playLiveStream:(id)sender
{
            if (![streamer isPlaying])
                {
                    [self createStreamer:AudioFilePath];
                    [streamer start];
                }
                else
                {
                    [streamer stop];
                }
}
#pragma mark ---------------------------------
#pragma mark AudioStreamer Methods
// Removes the streamer, the UI update timer and the change notification
- (void)destroyStreamer
{
    if (streamer)
    {
        [[NSNotificationCenter defaultCenter]
         removeObserver:self
         name:ASStatusChangedNotification
         object:streamer];
       
        [streamer stop];
        [streamer release];
        streamer = nil;
    }
}
// Creates or recreates the AudioStreamer object.
- (void)createStreamer:(NSString *)audioPath
{
    if (streamer)
    {
        return;
    }
   
    [self destroyStreamer];
   
    NSURL *url = [NSURL URLWithString:audioPath];
    streamer = [[AudioStreamer alloc] initWithURL:url];
    [[NSNotificationCenter defaultCenter]
     addObserver:self
     selector:@selector(playbackStateChanged:)
     name:ASStatusChangedNotification
     object:streamer];
}
// Invoked when the AudioStreamer
// reports that its playback status has changed.
- (void)playbackStateChanged:(NSNotification *)aNotification
{
    if ([streamer isWaiting])
    {
    }
    else if ([streamer isPlaying])
    {
    }
    else if ([streamer isIdle])
    {
        [self destroyStreamer];
    }
}
I hope this will be useful to all...
Thanks ,
Nilesh M. Prajapati