I don't think it can. But I could be wrong.
Sorry if it's a FAQ - wasn't able to find the answer.
any update on this?
Same here I can't wait for it.
hmmm... If you figure that you have a network connection, then does there really need to be a separate plugin, or just a tweak to the Media module to support being able to pick links to a stream versus an MP3?
For example, you'd just need to launch the WMP core pointing to a stream, like this:
Now of course you'd ultimately want to be able to browse stations and all that, but this could be a "quick fix"...