Silicon Alley Insider is saying that “we talked to a well-informed source who tells us that’s not happening(Beatles in iTunes).”

They also say that iPhone users will be able to take 15 second snippets from songs purchased on iTunes and turn them into ringtones for the iPhone for $2.50. Here is what I have to say to that, NOOOOO. That couldn’t be, that means that you will be paying $3.49 for a ringtone, that is ridiculous.

Here is my next prediction that I’m going to pull out of my butt. Any song purchased from the iTunes music store can be turned into a ringtone for absolutely free, but, you can only turn them into a ringtone if they were purchased in the iTunes music store, that means that you won’t be able to download ringtones online from another service and put them on your iPhone. This is just speculation and I made it up as I was typing it but I don’t see how they could ever charge you $2.50 on top of the $0.99 for the song just to turn it into a ringtone.