Apple has begun internal testing of iTunes 11 which features iOS 6 support and improved iCloud integration, according to a 9to5Mac report.
Apple is working on iTunes 11 as a version of iTunes that supports their upcoming iOS 6 release and future devices. Apple typically releases new versions of iTunes alongside major new OS's and mobile devices. While iTunes 11 is built as an iOS 6 compatible-release, according to sources, iTunes 11 could very well be a release coming farther down the road, and Apple could very well release another iTunes 10.x point update as a simple iOS-6-compatiblity release. One source calls that the more likely situation.
The site has also heard that a full iTunes Store and App Store revamp is coming between this summer and this fall. Previously, we reported that Apple purchased Chomp to help improve content discovery in the revamped application.
You can check out a screenshot from the internal version of iTunes 11 below. The software is said to feature a dedicated iCloud settings panel for accessing iTunes Match, iTunes in the Cloud, iCloud iOS device backups, and more.