Last.fm is a social networking website (of sorts) where you can swap your favourite playlists with other users and stream your music direct from the site onto your PC. Now you can do the same with your iPod and iPhone, thanks to their new mobile application which is downloadable from the iTunes store.

You can download the application by visiting iTunes and heading to the music category.

The applications works on the iPhone and iPod Touch and gives you the option of seeing the artist information for each track, biographies of the singer or band and even events news.

There is one drawback with the iPhone version though. Currently it doesn’t allow applications to work in the background, which means that when you click on a link to visit a website the Last.fm application will stop functioning, cutting off your music.

One function the application will have is that you’ll be able to buy any track from iTunes with a single click, which should please iPhone and iPod users.