Amazon has announced that it will be purchasing the audiobook download provider, Audible.com. The deal is an excellent compliment for Amazon who is just getting its MP3 music store off the ground. The purchase of Audiable.com is going to cost Amazon about $300 million, and they don’t expect the deal to close until sometime in the second quarter of 2008.

The deal could see Audiable.com end its deal with Apple’s iTunes music store, which has offered Audiable.com content since 2003. No word yet on whether or not Amazon will integrate Audiable.com into its MP3 music downloads service.