Could Apple be readying a video iPod? A recent report by The Wall Street Journal certainly seems to hint on such a possibility. According to the WSJ report, Apple Computer, Inc. is currently in discussions with several major recording studios in hopes of acquiring licenses to retail music videos on its iTunes online music store.

The WSJ said the negotiations are possibly an indication that Apple’s next addition to its iPod product line would possibly include a video iPod. According to analysts, this is a strong possibility as Apple is quite impressive with its movie standard and software, such as its Quicktime, Final Cut Pro and iMovie video-editing software.

The Journal further added that neither the online video sales nor the commercially available portable video players have done exceptionally well in the market due to various reasons.

Apple declined to comment on the report at the time of publication.