Apple has just launched iTunes Match, their $25 per year subscription service that makes your entire iTunes library available through iCloud, as a beta service, allowing you to play all your songs on any iPhone, iPad, iPod touch, Mac, or PC — whenever you want and wherever you are, without syncing.
From Apple:
Here’s how it works: iTunes determines which songs in your collection are available in the iTunes Store. Any music with a match is automatically added to iCloud. Since there are more than 20 million songs in the iTunes Store, most of your music is probably already in iCloud. All you have to upload is what iTunes can’t match. Which is much faster than starting from scratch. Once your music is in iCloud, you can stream and store it on any of your devices. Even better, all the music iTunes matches plays back from iCloud at 256-Kbps AAC DRM-free quality — even if your original copy was of lower quality.
To learn more about the service, including how to sign up, how it works, and how it will affect your music library, check out our comprehensive guide to iTunes Match.