Spotify is clearly setting its sights on Pandora and Slacker with an announcement Tuesday that the music streaming company is adding free mobile radio to its existing iOS app. There's just one problem: The update isn't quite ready yet.

Engadget is reporting that Spotify has issued a press release to announce its ambitions as a provider of mobile radio to U.S. customers. Best of all, the service is available to both free and Premium users through an update to the Spotify for iOS app.

"Our focus has always been on creating an amazing user experience," said Charlie Hellman, VP, Product at Spotify. "The radio feature we've added to our iPhone and iPad apps gives users the ability to discover, listen and save what they like on the go -- all within one app -- for free."

The new radio feature allows users to create "limitless streaming radio stations from single songs, playlists, albums or artists" as well as "browse friends' playlists and create radio stations based on their tastes."

If this all sounds a lot like the existing Pandora or Slacker internet radio services, that's because it's essentially Spotify's own take on it -- but given everything else that Spotify has to offer, it's likely to be a troubling concern for the streaming radio incumbents.

Of course, first Spotify has to actually release an update to the app, which was apparently expected to hit the App Store on Tuesday. The company touched base with Engadget to let them know there is a slight delay, and the iOS app update "will be available in the next few days" -- so keep an eye out for it, won't you?

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