Even though Apple has released iPhone 4S, iCloud and iOS 5 last week, and as our dearly departed friend Steve Jobs would say, they still have one last thing for this year… iTunes Match! Eagle eyed observers at Macrumors caught this in the music setting.

“Apple appears to be moving closer to a launch of iTunes Match in the United States, as the Music section of the Settings app in iOS 5 has now gained a toggle for turning iTunes Match on and off.”

“That toggle had been present for developers testing the service, but had disappeared in recent days for many developers. The toggle now appears to have returned for developers and is visible to the general public as well. ”

iTunes Match service can be bought for $24.99 per year. It will scan your iTunes Music Library and, well, match it with digital and their own copy of the songs in the cloud. You’ll be able to easily download new music and create playlist on the go.

The service was due to launch with iOS 5 but has since been pushed back to end of October. We’ll keep you posted about this new upcoming product from Apple!