Could Apple make some big waves in the TV world? Possibly.

All Things Digital’s Peter Kafka reports multiple sources saying that Apple is looking to extend its iTunes software with a $30-a-month subscription service. It’s an Internet television service that would ride “over the top” of existing infrastructure and could rival the traditional ones offered by cable TV operators, notes Kafka. That is, “if Apple ( AAPL – news – people ) is able to get enough buy-in from broadcast and cable TV programmers.” So will the Apple TV finally live up to its name? Kafka notes that the Apple television service would likely be an extension of its iTunes software, rather than tied to a device like Apple TV. “There’s no word on what role devices have to play in this deal,” notes gadget blog Engadget. Apple’s stock closed up 81 cents to $189.31 in Monday trading. – From Forbes