While we’re pretty sure we’ve seen bicycle speakers before, including ones for the iPod, cy-fi is a new product designed to dock your iPod and the first we’ve seen to provide wireless speakers mounted on your bike to “ride louder” according to the company.

The idea comes from bike riders who wear headphones to listen to music and are unable to adequately hear traffic around them. The cy-fi system lets them bring their music along in a compact package without the ambient sound restrictions by most headphones.

The system is fairly compact at only 3 ounces and mounts on to just about any bike frame. The design looks pretty aerodynamic as well, and the product site bears the “Made for iPod” logo which makes us feel better about it working well with the iPod. The cy-fi will run up to 6 hours on the batteries and can broadcast the music to as many as four of the cy-fi speakers. It should be hitting stores early in 2008 and will retail for about $149.95

cy-fi iPod bike speakers via Engadget