Here's an excerpt from the Business Week story:
Available July 13th, according to the San Jose Mercury News.
"The co-branded kit comes with a sensor that fits inside compatible Nike footwear -- sold separately -- and a wireless receiver that attaches to the iPod.
Data on running time, distance, pace and calories burned would be stored on the iPod, which could then display the information on-screen or deliver it audibly through headphones.
After the workout, the data also could be automatically sent to a personal runner's log at the new nikeplus.com Web site whenever the music player is synchronized to Apple's iTunes program.
The iPod will also incorporate a new "Power Song" feature, so a user can instantly queue up a piece of music for extra motivation at the push of a button.
The $100 Nike+ Air Zoom Moire shoe will be the first footwear designed to talk to the iPod, and more are planned, said Trevor Edwards, Nike's vice president of global brand management."