Yes, the BlackBerry 8100, 8300, 8800 are able to stream Internet audio because they support Java applications and there have been a few Java apps written to do this (for other phones) which run on the multimedia Blackberries.
I tried one and was able to listen to a 24kbps stream of a smooth jazz station off the Internet. The only problem is, Java for phones doesn't support real-time continuous streaming. Instead, Java only likes to play a "chunk" of data and then be done with it. So to work around this, these programs fill a buffer, play the buffer, and while that's playing they are filling a second buffer. There is a short delay while it switches from the first buffer to the second buffer. And then the second buffer starts playing for about 15 seconds, while the third buffer is being filled. Unfortunately this is the state of the applications available right now. What we really need is a custom-written BlackBerry app that uses the BlackBerry programming tools instead of the common Java development tools to overcome this limitation.
Here is a link to the thread from which you can download the streaming audio apps and partake in the ongoing discussion: ++++New streaming radio stations and new Program(s) to listen to them with