NEW YORK (CNNMoney.com) - Nike is getting in step with the iPod craze.

The footwear giant announced Tuesday that it will sell a wireless device that will allow its line of shoes to work with Apple's wildly popular music player.

"Nike+iPod will change the way people run," said Nike CEO Mark Parker in a prepared statement. "Nike+iPod creates a better running experience. We see many more such Nike+ innovations in the future."

The Nike+iPod Sports Kit, which will sell for about $29, works with Apple's Nano version of the iPod. The device will allow shoe wearers to store information about their workout on their iPod or have distance, calories burned or pace displayed on the screen or broadcast through their headphones.

Nike (up $3.22 to $81.20, Research) shares jumped 3.4 percent in midday trade on the New York Stock Exchange whileApple (up $0.80 to $64.18, Research) stock climbed 1.5 percent in Nasdaq trade.

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