With this year’s Christmas season landing dead-smack in the middle of one of the worst recessions in decades, there are a few Hip Hop heads who may not be able to swing the $349.95 price tag on the original Beats by Dr. Dre headphones. As such, Dre has partnered with Monster and Interscope/Geffen A&M Chairman Jimmy Iovine for a specially priced edition of his signature headphones.

While talking to Billboard about all business ventures under the Aftermath/Interscope umbrella, Iovine gushed, Dr. Dre‘s headphones are doing really, really, really well. It’s a fabulous product. We’re building a lot there.”

The new Beats by Dr. Dre Tour in-ear headphones will be available in limited quantities at a pre-launch retail price of $149.95 by mid-December 2008 at the Apple Store, Amazon.com and beatsbydre.com.

For those in a tax bracket that allows for splurging, the original Beats by Dr. Dre headphones have been released in limited edition Cleveland Cavaliers and Ron Herman colorways, for a retail price of $699. All three versions are equipped with noise-canceling technology and the line’s signature bass. As Eminem notes on the recently leaked track “Number One” [click to listen], “Beats quake like Waco/just keep the bass low/speakers away from your face though.”

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“Our Ron Herman boutiques are the quintessential environment where one can experience the unification of fashion, music and culture,” noted Ron Herman. Beats By Dr. Dre are more than just headphones, they are a fashion accessory.”