This seems to be an reasonable weekend project to tackle on a lazy afternoon. Rohit found a good deal on a TEA5767 FM radio chip on ebay. With some help on the part he received from another maker, Dilshan, all that was needed was a decoupling cap and a watch crystal. A DIY pigtail antenna later he had the board ready to interface with the MSP430 Launchpad via I2C. The push button cycles through FM radio channels.

The TEA5767HN is a single-chip electronically tuned FM stereo radio for low-voltage applications. The radio is completely adjustment-free and only requires a minimum of small and low cost external components. The radio can be tuned to the European, US,and Japanese FM bands.

You can follow his project here in the 43oh forum. His blog page has more information on his FM project. His project code is hosted on github.