Update: Most of the apps are live now and you should be seeing streams in your Facebook feeds. If you want to get into the action yourself, you'll need to re-install the app you'd like to use to secure permissions again. At the f8 Developers Conference today, Facebook's CEO, Mark Zuckerberg announced the launch of a new music service that allows you to listen to music with friends through Facebook or just see what all of your friends are listening to.
Facebook's plan is to show users your friends' activity in the newly launched "ticker bar" on the right of your Facebook account. Once you enable the app into your Facebook account, clicking on a song will allow you to open it in the app your friend is sharing it with.
You can integrate your favorite music streaming service in any way you see fit, or disable it completely. If you're using Spotify, for instance, you can allow every song you're playing to pop up in the feed on the left -- it won't integrate into your news feed, but it will allow friends to see what you're listening to and hopefully discover new music.
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If a friend happens to spot this at the same time you're listening, you can listen to the song together and talk about it in a separate area.