I listen to online radio a lot and I got sick of fiddling with streams and what not. I've been using this for a bit and so far so good. It's like having shoutcast.com at your fingertips without the hassle of browsing through all the different types of music with a web browser..
You should be able to find a binary package. If you install from source just do as root:
Do that only if there is a configure script, I have not seen the source because I used a binary package but that should install it.
./configure && make && make install && make clean