[Flac] Encoding Streaming Audio -- Possible?

[Hal Vaughan]

I've been reading the info on Sourceforge about Flac, but there's one thing 
I'm not clear about (and it looks like Flac may not support this yet).  
Before I installed it, I wanted to know if Flac would do what I need.

I want to be able to record shows on the radio (I have a radio hooked up to my 
Soundblaster Live!).  From what I've read, Flac doesn't do that, since it 
seems it only encodes from pre-existing files.

Is this right, or can I use Flac to encode the incoming signal from the radio 
and store it in a file?

I don't want to download it yet, because I get tired of having pieces of 
packages left over from all the programs I install to test and later find out 
they don't do what I needed them to do.

Thanks!

Hal