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Apple and Beats By Dre are rumored to be in talks about a potential partnership that includes the latter’s recently announced music-streaming service, code named “Daisy.” Apple has been reportedly looking for a streaming service to complement their iTunes juggernaut and a union with  Beats (Beats Electronics LLC) would be an incredible coup for the audio company founded by Dr. Dre and Jimmy Iovine.

The New York Post reports:

Apple Chief Executive Tim Cook met with Beats CEO Jimmy Iovine during a visit to Los Angeles in late February to find out more about Beats’ “Project Daisy”, a music subscription service the company announced in January but with scant detail, the sources said.

Apple’s Internet products chief Eddy Cue, a key player in setting up its iTunes Music Store, also joined the meeting, at which Cook expressed interest in Daisy’s business model and its rollout plans, although the two did not discuss specifics of a deal, the sources said.

The meeting between Cook and Iovine, who is also chairman of music company Interscope-Geffen-A&M, was “informational” and covered a broad range of music-related topics, the sources said.

Apple spokesman Tom Neumayr and Beats declined to comment.

This news comes after the recent announcement by Beats that their Daisy initiative acquired $60 million in funding from a group of investors and is now stand-alone company. The still in the works music service, which will compete with products like Pandora and Spotify, is scheduled to launch by the end of 2013.

“Beats was always about helping people re-discover the magic in the experience of listening to music,” said Iovine in a press statement. “Now that we are well along the way to addressing the quality of audio playback with Beats headphones and speakers, Daisy allows us to re-introduce the same magic into the process of music discovery and consumption.”

Sadly, this means a potential release of Dr. Dre’s Detox album is even more unlikely.

Let us know what you think of the idea of Apple and Beats By Dre partnering in the comments.

Photo: Beats By Dre