Engadget has gotten their hands on a Motorola SLVR L7, which also has the iTunes software on it.

It has just about the same user interface as the ROKR E1 (though the menus are slightly less sluggish) and it has Bluetooth, a VGA digital camera, and a TransFlash memory card slot for storing up to 100 iTunes tracks, but there is one real surprise: the phone doesn’t have a headphone jack. Seems a bit odd for a phone with iTunes, but we’re hearing that Motorola will offer Bluetooth stereo headphones.

This looks to be a better (and sexier) incarnation of the iTunes phone.