yes u can by kmplyer but this only support http links and not mms and there is another app called MyDicto it will recorder everything u play inside ur phone Like Radio & Songs
if u choose MyDicto
u can choose between Microphone for ur calls & Phone for ur live stream radio

so in ur way u have to choose phone and for best recorder format choose 44khz, 16-bit stereo wav
this the best quality