A new device promises to turn your iPod into a portable recording studio.

The MusicJam mixer is a new mixing and recording device for iPods. MusicJam lets users make their own personal versions of favorite songs by adding their singing and guitar jamming to any song and recording the results. The MusicJam can also be used as a Karaoke machine, letting users download songs and have the words displayed on the iPod for singing and playing along.

“We initially thought it would be more popular with teenage girls,” according to MusicJam’s Tom Sylvester. “But our product trials surprised us: The more enthusiastic group turned out to be teenage boys. We found it popular, too, among middle-aged men trying to recapture their Rock Idol status.”

The MusicJam system includes a microphone, XLR mike cable, iPod connector cable, RCA cables, AC adapter, and a clamp to attach it to a music stand, and retails for $229. MusicJam operates as a portable audio effects mixer and holds any full-sized iPod in its cradle. The self-contained unit clamps to a standard microphone stand or sits on a tabletop. MusicJam can also add special digital echo effects to the vocals, giving performances a large concert venue sound.

Software included with MusicJam can let users create iPod videos that display the lyrics of any song as it plays.