Ask HN: Best/easiest way to set up a legal online radio station

I have a good domain for online radio and want to set up a site for that. Does HN have any recommendations? Is Live365 the way to go here? My only requirements are that it's legal and not very expensive (less than $100/month would be good), and ideally would offer a web play along with .pls functionality to play the stream in a desktop player.

Any recommendations would be appreciated.