If you're one of a handful of people who have been wondering whether or not the new Droid Bionic has FM Radio capabilities, the folks at Android Central forums have confirmed that it does, and that the radio APK from the Droid 3 will let you listen whenever you want. It definitely works on our review unit:
The only thing required for the APK to work is a set of headphone plugged into the phone to act as an antenna. The app does have the option to play via the rear speaker however, so you aren't constrained to a set of ear buds (technically, you just need a wire with a 3.5mm plug).
DOWNLOAD: DROID 3 Radio APK (courtesy of Android Central Forums)
Remember, you'll need 'Unknown Sources' enabled in the Applications menu under Settings. The easiest way to install is probably just to e-mail it to yourself and install it directly from the Gmail app.
If you're interested, check out the source link below for the discussion.
Source: Android Central Forums
Thanks DendeKu for the tip!