a free software called Audacity to download any streaming radio from the internet to your hard drive as a WAV or MP3 file.

[Disclaimer: Always read the copyright policies of the content provider, make sure you’re not breaching copyright by downloading their streaming audio streams.]

Step 1: Download Audacity here.
http://audacity.sourceforge.net/download/
[Free download, available for Windows, Mac and Linux]

Step 2: Start Audacity and choose View -> Float Mixer Toolbar. In the drop-down menu on Audacity's mixer toolbar, choose "Wave Out" or "Stereo Mix" as the input source.

Step 3: Open the BBC Radio Player [or any streaming music website], choose the radio station you want to listen (or record) and hit the Play button.

[The technique work with RealOne player, Windows Media, Quicktime or any other player- Audacity just captures the sound coming from your speakers]

Step 4. As the radio player starts to buffer audio content, switch to Audacity and hit the Record button (it's in red color). You'll see a moving waveform indicating that the recording is ON

When the radio show is over or you want to stop the recording, just hit the Stop button inside Audacity. Save the recording as a WAV file or get the Lame MP3 encoder to save the streaming radio as an MP3 file which you can even carry in the iPod or burn it to a CD.

Wow,I've had Audacity just sitting here on my comp.I was gonna delete it,I just used it to cut up songs for loops with it, i never checked out what else it did,pretty sweet thanks!