FM radio for biking?

OK, this is really miscellaneous! I bike to work, and recently bought Radio Shack's "best" portable radio (about the size of a deck of cards), and their best earbuds. The radio was about $60, and the earbuds about $30.

The radio doesn't do very well. It is very prone to static depending on where it is positioned. The sound isn't bad (except for a quite noticeable background hiss)when the reception is good. It would be OK if I found a good spot and didn't move!

The radio has digital tuning and a "mono" switch, but still seems to be poor at "pulling in" stations.

Does anyone have suggestions for a better device for listening to the radio while biking? I'd be willing to spend as much as a couple hundred dollars.

Also, what do people use (if anything) for earphones? These earbuds sound decent, but generate quite a "whistle" in the breeze when I get moving.

Thanks for the bandwidth!

- Eric
I agree with Ghostrider. I'm continually amazed by riders who have no idea that I'm riding right next to them because their headphones are on. (Not to mention the crazy drivers and dogs off leashes.)
Good question about blocking ambient noise. I was concerned about this too, but haven't found it to be a problem. I listen in mono, mainly to news, and so sometimes use only one earbud (when riding on a street, which I don't normally do). Even with both in place, I can hear surrounding sounds well.
As an advid cicylist and audiophile I would strongly discourage listening to any spoken word or music while riding a bike on a road. You put yourself at great risk of injury. This is really uncool and not good behavior or modeling. Please reconsider your actions!
As someone who used to seriously race bicycles and do long workouts on city streets, I can assure you that if you can't hear the bus, it isn't there. Of course, my racing career was put to an end by MetroTransit #3445. I can't forget it because the number is permanently etched on my butt.