The collaboration will further intensify the rivalry between the social networking giants Myspace and Facebook.
Myspace is famous for allowing bands to promote their songs enabling users to sample music. Both Lily Allen and the Arctic Monkeys are products of the Myspace fame generation.
Facebook application developer Toby Beresford said that it is positive news for Facebook users.
Speaking to Sky News he said: "I think this shows that Facebook are living up to their promise of being a 'platform' rather than a walled garden channel."
"They could have taken the Myspace route and chosen to make money from downloads themselves but by allowing iTunes to do it it shows they are looking to build up other people's businesses, not just their own."
It will be interesting to see how users react to Facebook 's innovation as the online social network popularity war continues.