AOL is finding ways to stay relevant in the tech world of today. The Internet Service Provider is launching an AOL Radio application for the iPhone. The application will connect to AOL’s servers by the way of Wi-Fi connection or over the EDGE & 3G network. The 3G iPhone GPS will monitor signals form satellites 12,000 miles in space in order to determine your location. This will automatically determine your location and tune to the digital stream from the nearest CBS station. The AOL Radio service will provide 200+AOL radio stations and 150 CBS Radio stations.. The service will be free to users, with minor audio advertising inserted in the radio streams. AOL unveiled this application at the Worldwide Developer Conference in San Francisco this week and won the award for “Best Entertainment Application”. Look out for the application sometime next month.