Officials at eBay have said the company is now ready to auction radio advertising on about 2,300 participating U.S. stations, according to a Reuters report. The move increases competition with search giant Google, which partnered with Clear Channel in April to sell radio ads.

The decision to launch its radio ad auction system comes on the heels of reports that the Oxygen Network had signed on to eBay's Online Media Exchange.

The U.S. radio auction market will go live today, with all 300 top-ranked markets covered by the system, according to eBay officials.

"Available inventory is determined by participating radio stations and what they choose to sell for the next week," eBay spokeswoman Kim Rubey said.