I think underwear should have a pocket, but not for something silly like an iPod since if you used it during normal day life, it would require you to reach into your pants to operate the iPod; which could create some uncomfortable situations such as in elevators or on public transportation.
But it would be a traveler's best friend. Far away from home on vacation? Hide some money into your iBoxer in the event that you're robbed as well as any vital information. If a criminal steals your underwear, then money is going to be the least of your concerns for the moment.
Or maybe even a house key so that you'll know it's always on you and won't be misplaced or dropped somewhere unless you manage to lose your underwear sometime during the day. 😱 And you could get your keys in the privacy of your car since nobody really wants to watch somebody fiddling in their pants.
Though maybe the target audience of the iBoxer is for people who think it is cool to wear their pants around their ankles which would otherwise place an iPod out of reach and put it in danger of being stepped on. 🙄