Will iTunes in the cloud work with a networked drive?

[Soundhound]

I'm wanting to put my large (650 gigs) music library on a networked drive, and access it from various macs and iOS devices around the house. Will I be able to use iTunes in the Cloud and iTunes Match etc., with that, or does it have to be directly connected to an iMac running Lion?

 

[Soundhound]

Fixed a couple of typos. I meant will it work with iTunes in the Cloud, iTunes match etc...?

Anybody have an idea if this can work? Anyybody doing it?

 

[fanchee]

I'm going to do this. Just got a NAS and transferring my iTunes music to it now. I can report back. I hope it's as simple as option-clicking when opening iTunes, choosing the library and pointing it to the new location in advanced options. I'll let you know!