Some of you may already knew this, but Apple TV unofficially supports Internet Radio. I found this out when 2.0 was released a few months back.
To get this feature working, all you had to do was create a playlist with Internet radio stations in it then just sync the playlist to the Apple TV. One major flaw was that, iTunes had to be running at the same time. Otherwise, the stations would disappear from the Apple TV.
With 2.0.2 update, this is no longer the case. The playlist with the Internet Radio streams would persist even when iTunes is not running on the computer it synced with. However, once you restart the Apple TV, the playlists with Internet Radio streams would disappear.
I have written a post about this on Apple TV Source . So while, we don’t have 100% functionality for Internet Radio yet, it is still much better than before.