iBiquity Digital has announced their Gigaware HD Radio receiver that, when paired with the iPhone app, will let you receive HD Radio signals on your iPhone.

The application is free but the receiver will cost $79.99 and is being sold exclusively through RadioShack. The accessory uses your headphones as the antennae, but that means you can’t plug your headphones into the device’s standard headphone jack.

This is a great example of pairing hardware and software with the iPhone but I think the form factor is going to hold this particular device back. It isn’t just something that sits in the dock connector, it has a wire running from the dock connector to the actual receiver. The receiver has some play/pause and next/previous buttons and reminds me of the third generation iPod shuffle.

Aside from the fact that I have no interest in listening to the radio, I also don’t want to carry around another cable.