Apple has released iTunes 10.1 on Friday, adding support for iOS 4.2 and iOS 4.2’s AirPlay feature. iOS 4.2 hasn’t been released yet, but is expected any day now.

AirPlay is audio streaming technology. At a special event on Sept. 1, Apple CEO Steve Jobs debuted the technology, a system that streams audio, either wirelessly or over Ethernet, to third-party speaker docks, A/V receivers, speakers and more.

iTunes 10.1 also offers stability and performance improvements, according to Apple. You can obtain it via the Software Updates component of Mac OS X’s Systems Preferences app.