I work in the streaming industry and have never heard anyone say "istreaming", I guess you're looking to play off the ipod connection?
Maybe I'm missing something here but I would say limited in value unless someone comes up with a new technology that means content can be streamed to ipods connected via wireless for example. Then it may become part of IT lexicon.
But then again they are probably more likely to just refer to it as as "streaming", luckily for me streaming.co.uk is part of my portfolio ;-)