I don't know whether this is the best way, but I created a play-list of Armenian radio stations, Armenian.m3u
#EXTM3U
#EXTINF:-1,Beirut, Lebanon - Bashdee
http://yp.shoutcast.com/sbin/tunein-station.pls?id=546514
#EXTINF:-1,Istanbul, Turkey - Nor Radyo
http://www.norradyo.com:8000/
#EXTINF:-1,Moscow, Russia - Armenia.ru
http://radio.armenia.ru/pls/listen.pls
#EXTINF:-1,International - Armenian Bible Study Radio
http://sc7.mystreamserver.com:8036
#EXTINF:-1,International - Armenian Pulse Radio
http://yp.shoutcast.com/sbin/tunein-station.pls?id=416989
#EXTINF:-1,International - Arm Radio
http://www.realradios.com/x/stream/50536
#EXTINF:-1,Yerevan, Armenia - Public Radio of Armenia
http://www.armradio.am/eng/live/listens.pls
#EXTINF:-1,Yerevan, Armenia - Public Radio of Armenia - Shoutcast
http://yp.shoutcast.com/sbin/tunein-station.pls?id=898669
#EXTINF:-1,Yerevan, Yerevan, Armenia - AR Radio Intercontinental
http://www.realradios.com/x/stream/50541
#EXTINF:-1,Yerevan, Yerevan, Armenia - Yerevan Nights Radio
http://www.realradios.com/x/stream/46211
#EXTINF:-1,Boston, MA - Hairenik Radio
http://www.live365.com/play/acaa
#EXTINF:-1,International - AIM Radio
http://www.live365.com/play/aimmedia
So I can maintain this list separately and then import it into Banshee after upgrades.
I wish, however, for Banshee to be more user-friendly with add/remove/update/export/import of on-line radio stations, as this way seems to be not very intuitive (at least to me).
1 - In Banshee click on Add A New Internet Station Or Playlist
2 - Then in the Stream URL field copy and paste: http://www.somafm.com/groovesalad.pls
3 - In the Station Name enter the station name
4 - In the Station Genre drop-down menu choose from the list
For some unknown reason you need to fill the Station Genre in before it will allow you to save the station.
5 - Click Save
I have just tested this and it works, even after I have restarted Banshee the radio station I added was there and was working perfectly.
Best Answer
It doesn't work for me, and I doubt it will work for you. There is an extension for Banshee to accomplish this, but it normally causes banshee to hang, sometimes crash.
If you are using 1.9 from a ppa, install the community-extensions, and then enable stream recorder. When you go to the radio browser, you can then click on the record button and see if it works for you. If it doesn't work I would suggest using rhythmbox to record.