Thanks iamtim and Motophoto. Again, I find it astounding that there's not already a manufacturered product that does this already.
I do know that quality will be diminished...here's the thing: riding and running are the only times throughout an entire day that I have all by myself to listen to music, think, enjoy my world, etc. I can't listen at work...(even though I can hit message boards from time to time)...my commute is normally devoted to talk radio...and I've got a wife and kid at home, another on the way, and two pathetic dogs that need more attention than the kid. I'm a musician, so music is a necessary part of my life, and I'm trying to find the times to listen to music. Even if it's on in the background and it's just a 'soundtrack to my workout', I still enjoy it.
Anyway, I always see the pros with their race radios and earpieces. Does anybody know what earphones they use?