London’s Financial Times is reporting that Apple and the record companies have something new to fight about: How much Apple would have to pay per iPod or iPhone to give users unlimited access to virtually the entire iTunes store music library.

This is a variation on the “subscription model,” like Rhapsody and other services, where folks can listen to as much music as they want—as long as they keep paying a monthly fee. When the fees stop, so does the music.

In the Apple version, the FT says, that cost would be incorporated into the cost of the device, and would last as long as the device did. The hitch: Nokia, the Finnish phone company, is trying to cut a similar deal with the music industry, and offering $80 per unit.

Steve Jobs is holding the line at $20, the FT says, citing as sources two executives.