By Ray Rahman
Updated May 02, 2012 at 11:05 AM EDT

Listen up, Spotify-heads: the music-streaming service has announced the launch of its iPad app today.

The app, which will be available in the iPad App Store beginning at 7 a.m. today, will be free to download for existing Spotify users with premium accounts. Like the desktop and smartphone versions, the iPad app will also be available to non-subscribers, also free but with ads.

The new app will carry mostly similar features as the Spotify’s desktop version as well as a number of new ones, including gapless playback, the ability to crossfade songs, and AirPlay integration with Bluetooth-enabled speaker systems.

One of the more notable new features is the improved “Now Playing” screen, which offers fullscreen view of high-definition cover art. The reasoning is that this will look prettier in your living room, where Spotify hopes it will be able to replace your traditional home stereo system.

Take a look at the YouTube ad for the company’s shiny new toy in the video below:

What do you guys think — are you ready to let Spotify into your iPads and living rooms? Let us know in the comments.

Read more:

Barack Obama is on Spotify, and he put together a playlist

Now hear this! EW is on Spotify

Spotify USA is real, and it’s pretty spectacular: An EW review