Last Thursday, Toshiba received certification for the Zune, at least that is what it appears to be. It appears to have WiFi, a 30 GB HDD, an FM tuner, and a USB port. One can read the preliminary manual here. The internal photos do not indicate satellite radio. However, it does not preclude the possibility of accessing XM or Sirius via WiFi.
As mentioned elsewhere, it has social capabilities. The User may "DJ" streams to up to 4 other users.
The image on the left is from the FCC filing. The one on the right is from Orbitcast. They are strikingly similar, so it is most likely the Zune. The one from the filing is obviously not a finished product.
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