Not quite the same thing but using the Logitech squeezebox system you have an Optical OUT on the device which you can record on a Home Cinema player / computer or any other device with Optical Input -- this ensures the Highest quality of recording.
Of course from Internet Radio its recorded in Real Time.
Incidentally the logitech mediaserver software (Free) works on Linux as well as Windows will also stream Music from your Music folders on your Computer to a player device and will play FLAC also directly --giving you the highest possible fidelity rate.
The squeezebox Internet Radio can also play your Music from the computer (also FLAC is palyable) and it works wirelessly too and with a battery as well it's portable wherever your Wifi system is available. It's a great system.
The other great thing about the squeezebox system is you can still play Internet Radio when not even logged on to your computer (your Internet / wifi must be available however).
You can also play an Ipod device via an Input plug on the Internet Radio if you want too.
Squeezebox information Logitech - Wi-Fi Music Players
Internet Radio Logitech Squeezebox Radio - Internet Radio with WiFi: Amazon.co.uk: Electronics
Both 100% Brilliant and the Internet Radio gets rave reviews everwhere. And it's Cheapish too.
Sometimes its worth looking at alternative ways of distributing the music rather than being forced to be attached to a computer. !!!!
Especially with the weather improving -- sitting out in Garden / Conservatory listening to great music on Bose headphones with a Glass in my Hand -- What more could I ask for !!!.