Reuters is reporting that Apple has completed work on its highly anticipated cloud music service. And guess what? So far it looks like Cupertino hasn't reached any new licensing deals, a turn of events that could bode well in terms of the end cost to consumers.

Ever since Amazon skirted the recording industry with the license free roll-out of its own music streaming service, a line has been drawn in the sand. Now, long-running talks between the labels and the big tech companies could be breaking down like dominoes.

Apple's service is expected to allow streaming of your music library on any internet-connected computer or to iOS devices, including the iPhone, iPad and iPod Touch, according to Reuters. The service is expected to beat Google's to market, although it's not clear when that will be.

Apple has previously announced that this Junes MacWorld event will be about "The future of iOS."