PyRadio 0.1 is now available! PyRadio is a curses based Internet radio player that makes it really simple to play music via the console. It's written in Python, and uses mplayer for the media playback. The full source code is available via GitHub.
I use Amarok for managing my media collection, and it comes with excellent support for Internet radio. However, Amarok can be fairly resource intensive. That's why I developed this extremely lightweight console based radio player to make it easy to listen to music without slowing my system down.
For the next release I'm planning to support easy addition and removal of radio stations. Currently you have to edit the actual code if you want to do that. If anyone finds this app useful and would like to request a feature then feel free to leave a comment, either here or on the PyRadio project page.