IM-obsessed middle and high schoolers have something to save up their part-time job money for. The ZipIt Wireless Messenger 2 (Z2) is a combination instant-messaging device and MP3 player that will sell for a mere $149 when it comes out next month.

The Z2 isn't a cell phone. It's an inexpensive gadget that replaces an extra family PC in families where one child wants to spend five hours a day on AIM, Yahoo! Messenger or Windows Live Messenger. It's easily portable, and can handle multiple conversations, so kids can type on their beds. It rejects messages from folks who aren't on the kids' buddy lists, and doesn't let kids surf porn (there's no Web browsing), so parents feel safe not looking over their kids' shoulders. It follows up on an earlier version of the ZipIt, released in 2004, that had a gummier keyboard and black-and-white screen.

The Z2 connects to the Internet using Wi-Fi 802.11b or g, presumably in a home network. (Without a Web browser, it lacks the ability to fill out the authentication pages that hotspots typically have.) For now, it has its multiplatform IM program, an MP3-playing and Internet radio streaming program that works either with headphones or through built-in speakers, and a photo-gallery program. (It takes its music and photo files from a MiniSD card that you load using a card reader on your PC.)

But, as it's running embedded Linux on a Marvell processor, it's highly extensible—ZipIt can push out new software to the device whenever the company wants to. ZipIt even plans to be friendly to Linux hackers who want to develop new uses for the device, execs said. Part of their planned future functionality includes the ability to boot off of a miniSD card. ZipIt might also include ways to access messages on sites like MySpace and Facebook or SMS messages in the future, though those features are just at the speculative stage, execs said during a product demo.

Z2 owners will also get access to a Web portal where they'll be able to download new skins, fonts, backgrounds, and Internet radio station links. ZipIt execs say the device will have four to six hours of battery life.

We got to handle the Z2 for a little while here at PC Magazine, and we were very impressed. The keyboard has relatively firm, clicky keys, with an aggressive backlight, and the color screen is sharp. It connected to WPA and unsecured 802.11g networks in our labs, and pulled up a combined AIM and Yahoo! buddy list.

The killer feature here, though, is the price. At $149 with no service contract or monthly charges, it's actually affordable for many consumers, unlike competitors like the Sony Mylo or higher-end messaging phones. We'll have a review soon.