I looked into www.pirateradio.com years ago. They either let listeners download the destiny media player or they can listen through the website. It looks like it costs to broadcast using their site but they provide the streaming servers.
Of course there is always shoutcast that is free but you need a decent connection to support more than a few listeners at once.
Just signed up to MyRadioStream.com and used the linux software BUTT.. yes that is the real name ("Broadcast Using This Tool") and it works flawless. Free software, free service and servers to host your live program. You can have up to 200 listeners and you never have to worry about your connection speed because they run the servers. 128k audio quality, and a bunch of other features. Only drawback is that they do not list you in shoutcast or other directories, so if you want to get heard you have to whore out the URL to your live feed. Still pretty cool, and if you do want to be listed it is <$10 a month. Of course I am not affiliated, but what a cool find! Having fun using this right now to run some shows and handing out the link to former AM/FM listeners of the pirate operation.