Nike Inc. said on Tuesday that its shoes will now be able to talk to Apple Computer Inc.'s iPod music players about how far an athlete has run with a new wireless system called Nike+iPod.

Shares of Nike rose nearly 4 percent.

Using a Nike+iPod Sports Kit, expected to retail for about $29, consumers will be able to access distance, time, pace and calories burned on the screen of a nano version of the iPod via a sensor inside the shoes that communicates with the digital music player.

The kit will be available in stores within two months and other products will follow.

Nike, the No. 1 global footwear company, said the Nike+ Air Zoom Moire was the first shoe designed to work with the system.

Apple will also include a Nike Sport Music section on its iTunes music store, the companies said.

The partnership was announced in New York during an event attended by Apple Chief Executive Steve Jobs, Nike CEO Mark Parker, Tour de France champion Lance Armstrong and marathon record-holder Paula Radcliffe.

Shares of Nike rose $3.05 to $81.03 on the New York Stock Exchange. Apple shares rose about 59 cents or about 1 percent to $63.97 on Nasdaq.

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News source: Yahoo! News

...Despite the fact that the shoe can't really detect your stride length, but only your number of steps? A fat person will burn more calories than a skinny person because they're carrying more weight, so it requires more effort to walk.

all anyone has to say these days is "iPod." and BAM! you're rich and hip.