Can you stream music from the cloud on the iPhone?

Can you upload music to Apples cloud storage, and then play it on your iPhone? Akin to Google's Play?

You can pay for iTunes Match and it will automagically put all of your existing iTunes Library into the cloud for you. I think it's like $25.00 per year. It's pretty cool for someone with a small music library, I have over 50, 000 songs so it didn't really work all that great for me because of teh way it got streamed to my iPhone.
I went anotehr route with a software called Subonic - it's free to try for 30 days and I think my donation to get the full version was a whopping $7 - not annual but one time payment and done. Subsonic makes a stand alone media server on your PC or Mac and I'm pretty sure they have a Linux model now too. You can stream all of your music and videos to the world. The video transcoding and player don't work with iPhones or other iDevices but the music streams like a champion! Just go to www.sourceforge.net and search for Subsonic, then you have to get the app iSub or Substream (both rock) and the last part is just figuring out how to get a free dynamic DNS accout (just Google for Free Dynamic DNS Service and you'll find a ton).
The best part of Subsonic is that you can setup user accounts for your friends and they can come check out your music as well as upload their own!