A quick video on how to get FM Radio onto your Android Phone. This is not a streaming application, it actually receives FM radio signals using the FM chip that is embedded within the Bluetooth chip inside your phone. Although this application doesn’t say that you must be rooted for it to work, I would recommend that your phone be rooted because I tried this application without being rooted and it didn’t work.
Free version is no longer available currently there are two versions. And as of March 2014 the developer doesn’t want people to buy the lite version (he increased the price to 0 to discourage people from getting it) Now your only option is the unlocked version. Unlocked version costs .99 (USD)
Link to Unlocked version: https://play.google.com/store/apps/details?id=com.mikersmicros.fm_unlock&hl=en
Spirit2 is an updated version for newer devices however it might not work on older devices. The price is .99 (USD)
Official XDA Forum page by the Dev for any questions and comments you have.
Official XDA Forum page on the currently supported devices and what extra settings may be needed to get them to work. So check here to make sure your device is listed as working.
If you need a guide to rooting your Android phone, I have a video tutorial that works for the Droid 4, Droid 3, Droid RAZR, and Droid BIONIC.