iLike has been a popular music application for Facebook, but will that fan base matter when it comes down to opening a download store? According to CNET, the music service is currently trying to make a deal with four major labels to help back them up in this goal and are close to closing agreements with three of those labels. Multiple sources still can’t unveil which labels those are, but iLike is hoping to get this wrapped up within the next 30 days.

An iLike Seattle-based spokeswoman has stated, “While we don’t discuss the specifics…I can tell you that our goal remains the same: to facilitate music discovery and consumption across the Web.” Does this sound familiar? Imeem and MySpace have already tested the waters in this pool, and they have done all right because their libraries offer full songs instead of 30 second clips.

If iLike manages to make any profit by cutting the middle man out, they might be able to be another competitor. However, CNET has also reminded us that iLike is not everyone’s favorite business partner. Earlier in the year:

“All Things Digital reported last year that iLike was for sale. The blog also broke the story that the Rhapsody deal had gone sour when Warner Music and Sony Music Entertainment, had pulled their music from the service.”

Rhapsody had pulled out because they didn’t want music services depending on each other’s full libraries. Can iLike find a suitable business partner and actually make a profit? We’ll see within the next 30 days!