Jacob:
It may have to do with the bandwidth of your connection to the Internet. Are you using dial-up, cable or DSL? What you are describing sounds like some of the problems I used to experience when I used a dial-up connection, which is way to slow to handle even streaming audio.
Also, there is a setting in Windows Media player to send information to a Web site to to help with the quality of your signal. Check to see that you have this option enabled.
To verify that your media player is not to blame, try a different player. For example, if you are using Windows Media Player, see if you get the same problem when you use QuickTime or Real Player. Many sites give you the option to choose all three, which is a good way to troubleshoot, as it rules out the signal quality of the streaming audio as the cause. One such site is here:
http://www.kwve.org/Try listening to the live broadcast using all three programs to see if one experiences the problems while the others do not. If this is the case, reinstalling the program that is having the problem might be the solution.
Let us know how it goes,
Doc