Can I connect my iPhone to an external Wi-Fi hard drive?

I have an external hard drive with Wi-Fi capabilities and I was hoping to be able to install and store all my iTunes on it. When I'm in the house is there anyway to connect my iPhone to it and stream off the hard drive? I don't understand this cloud thing but my HDD doesn't have this?

I believe only apple tv can access itunes over external Wi-Fi hard drives, and I'm not sure but I believe its only the airport extreme from apple that can do that.

If you want to save some room on your phone, you can use amazons cloud player app, they let you store up to 5 GB of your own music online, and unlimited if you bought mp3s through amazon instead, they usually have free mp3 promos if you look around on google.

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