Is Apple getting closer to launching their new cloud-based music streaming service? Previously we’ve heard of Apple sealing a deal with EMI Group and Warner Music, and now Apple has already managed to complete a deal with Sony Music and Universal Music.

Following Thursday’s report, Bloomberg on Friday revealed that Apple landed a licensing agreement with Sony Music, inching it one label closer to possibly launching the new cloud-based music service during its Worldwide Developers Conference taking place in San Francisco on June 6 – 10. Insiders close to the situation said that Apple is close to closing negotiations with the fourth and final label, Universal Music. But even with the four major labels under its belt, Apple will still need to pursue agreements with music publishers which control different rights than the actual labels.

For a while it was speculated that Sony wouldn’t agree to Apple cloud service after launching its own Qriocity streaming music offering here in the States back in February. There was even talk that Sony Music may even pull out of iTunes, that it would be a conflict of interest. But Sony assured consumers that a withdrawal wasn’t in the books, that it still generated tons of revenue from Apple’s platform and saw no sign of departure in the immediate future.

Once launched, consumers will have the ability to purchase and store the tunes on Apple’s servers rather than download them locally to a PC or iOS device said sources who requested to remain unnamed. While no additional details were provided, it’s likely that consumers will be able to stream and cache music, the latter for listening when offline.

So, will we see Apple launching this new service in the upcoming WWDC 2011, which is in early June?

SOURCE via Bloomberg