I don't listen to an ipod. I don't like the idea of cutting off my sense of sound. Hearing the cars coming is fairly important in a number of areas on my normal routes, when having to move across lanes to make a left, for instance. More importantly, I can hear where other cyclists are, which I'm convinced that people listening to earbuds cannot.
Beyond this, I get enough music driving to and from work, and really enjoy hearing the wind and the sounds that come with pedaling and shifting.