Yeah, Google will be offering its new music service and according to Tech Crunch the formal announcement will be made on October 28, 2009. Google Audio/Google Music/ OneBox, Google hasn’t disclosed its final name yet. Although we are sure that Big G will be joined by other two online music sites Lala and iLike.

The trio will join forces to offer live music streaming to possible millions of American users. Yep, at this moment, only U.S. residents are eligible to this new music service.

What is iLike and Lala?

In case you’re not familiar with iLike and Lala. iLike is a social-networking music service and currently own by MySpace. It allows millions of its users to download and share music to one another and other social networking sites such as Facebook,Bebo, Orkut, hi5 and iGoogle.

On the other hand, Lala offers an online digital music store where users can listen and buy songs. Playlist sharing for registered members is also available along with music uploads, streaming and CD purchases.

How does it work?

The new music service works hand in hand with Google search. Music streaming can be accessed either from iLike or Lala. Google certainly has the advantage on this music service with its powerful search engine system. User music searches will be a breeze. We aren’t sure, however, if the Google music streaming will be limited to non-paying members.

Music downloads will also be available on Google’s new music service. Big G is really pushing the envelope on its business ventures, what do you think will be next after this Rock and Roll?