On June 6, 2011, Apple announced it's upcoming new product: iCloud. iCloud "Stores your content and wirelessly pushes it to all your devices". iCloud will be available in the fall. iCloud comes with nine main features. The first is: iTunes in the cloud. When you download something from one of your devices it is wirelessly pushed (downloaded) on all of your devices, keeping every one in sync. Two: Photo Stream. When you take a picture it is pushed to all of your devices, now you can access it from any device at any time. Three: Documents in the Cloud. Any change you make to any doecument, or create any document, iCloud saves that change and syncs it to all of your devices, so you can start editing in one place, and finish in another. Four, five and six: Apps, books and back-up. If you download an app, it is wirelessly pushed to all devices. If you download a book, it is pushed to all devices. iCloud even backs up all of your devices, so if something does go wrong you can restore your device exactly how it was. Seven, eight, and nine: Contacts, calandar, mail. If you add, or change a contact from one device, it updates it on another. When you add or change a calandar, it is updated on all other devices. And iCloud gives you an email (@me.com), just like gmail, hotmail, yahoo, etc.
iCloud will be a free product. However there is one more feature. For all your imported music from CDs, etc, iTunes match will match your songs with the 18 Million songs on iTunes, and gives you the benefit of iTunes music downloaded on iTunes, for $25.00 a year. It is built into Mac OS X 10.7 Lion, and coming in the fall iOS 5.
http://www.apple.com/icloud