Heres a quick tutorial on how to stream internet radio, in particular shoutcast, through VLC media player. Most people stream through Windows Media Player or Winamp, but if you like Open Source applications like me, heres how you do it.

File -> Open Network Stream

Select the HTTP/HTTPS/FTP/MMS box and in the form, enter the URL of the shoutcast server, with the port. In my case its enaxi.com:8000 . Then click OK.

And tadah.. It works!