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Everyone knows that Research In Motion (RIM) plans to extend the multimedia capabilities to its BlackBerry wireless handhelds. Meanwhile, there have been constant rumors, so far to no avail, about Apple developing a phone: It registered the mobile-handset-friendly trademark phrase “Mobile Me” in January, for example.

Now comes a rumor that merges the two together into what the industry has termed an "AppleBerry." (Hey, Motorola internally nicknamed the Q - its new BlackBerry-like Windows Mobile device - RAZRBerry.) The source of a RIM/Apple partnership is Canaccord Capital Inc. analyst Peter Misek, who correctly predicted RIM's integration of Intel technology into BlackBerrys last year; giving his latest suggestion, in the minds of many, credibility.

Misek speculates that Apple may develop a handset merging an iPod and BlackBerry or, perhaps, RIM could integrate the iPod software into a future BlackBerry. Either way, a deal would give each company something the other lacks.

A deal could help Apple finally gain entry into the world of wireless devices (e-mail on your iPod anyone?), where RIM dominates (at least in the enterprise), and RIM would benefit by gaining from Apple's huge consumer presence (iTunes on your BlackBerry?).

The problem is a similar deal between Apple and Motorola, for the ROKR music phone, which runs iTunes software, hasn't exactly set the world on fire; some say due to the strong desire by both companies to control the hardware: The otherwise basic cell phone lacked iPod style, a way to add more than a 100 or so songs, the ability to download music wirelessly, the convenience of Bluetooth for wire-free headsets, and, rather than a speedy USB 2.0 interface, users were stuck with a slow USB 1.1 connection.

Who's to say a similar issue wouldn't rear its head between Apple and RIM, where both companies software and hardware are integral to their own products and solutions. Not only that, you’ve got three very strong personalities running these companies: RIM's co-CEO's Mike Lazaridis and Jim Balsillie and Apple's Steve Jobs.

So while Silicon Valley venture capitalist Jean-Louis Gass, who once ran Apple's global products division and R&D, told Globe & Mail he thinks a partnership could work, he added, "I want to see the two CEOs of RIM and Jobs working together. The thought of this ménage ŕ trois is absolutely hilarious.”

In March, Piper Jaffray analyst Gene Munster wrote in research note to clients that he estimates “a 75 percent chance of a iPhone in the next 12 months."

So will Apple create this device independently, with the aid of another company (RIM), or in some combination of the two? There’s no reason it couldn’t do both.