Apple is all about the iPhone today. The long-awaited ringtone-making service for our iPhones is finally here. Steve Jobs announced the new Ringtone tab in iTunes that would enable the user to create a custom ringtone (complete with fade-in and fade-out effects) from one of 500,000 compatible songs. The service will be piggy-backed onto a song purchase - which means that you will have to purchase a song at $0.99 and then create a custom ringtone for another $0.99. Here’s how it goes: Download/buy your song. ($0.99) Click the “Ringtone” tab in iTunes. Choose which portion of the song you want to hear on your iPhone’s ringer, add fading effects. Click “Buy” to upload to your iPhone with ease. ($0.99) Total cost for making a custom ringtone for your iPhone? $1.98 We’re not yet sure if ringtones can be created from previously purchased songs for $0.99, but we sure hope that’s the case. The new service should go live next week. [Via: iPhone Central ] ---Related Articles at IntoMobile:iTunes Ringtones tab will allow custom ringtones for your Apple iPhone!Apple set to launch custom ringtone maker for iPhone music ringtonesApple to require iTunes subscription for iPhoneActivate your Apple iPhone from home using iTunes!Apple iTunes will sync your existing data to the iPhone!