Google Music, a streaming service that users would be able to access from Internet-connected devices, is close to being ready but is being held up by a lack of content. Google managers told counterparts at the top four record companies last year that they hoped everything would be in place for a launch by late 2010. The delays are largely due to the fact that Google is negotiating for cloud music rights and not just the authorization to distribute the songs themselves.
Labels have never given out licensing rights for digital lockers, so it's not like they can just grab an old template and work off that. They definitely do want Google to join the digital-music fray, however, as the possibility of a large iTunes competitor could mean Apple won't be able to bully music industry executives as easily.