A new report has emerged offering details on Apple’s cloud music offering. Citing people briefed on the talks between Apple and the major music labels, Bloomberg reports that Apple will be able to scan customers’ digital music libraries in iTunes and quickly mirror their collections on its own servers, replacing low-quality songs with higher quality versions, after which users will be able to stream their songs and albums directly to their devices. According to the report, users will be able to store their entire music collections in the cloud—including songs that may have been obtained illegally, giving the music labels a way to earn money on pirated music through whatever fee Apple plans to charge. The report claims that the labels are negotiating aggressively to ensure they make a profit from the shift to the cloud, as it may be the last opportunity to stem piracy and dropping sales. Apple has already signed deals with three of the four major labels for the service, and is said to be close to reaching a deal with the final holdout, Universal Music. Apple could announce its cloud music service as early as its Worldwide Developers Conference, which begins with a keynote address on June 6.