Edit in JSFiddle

var player, is_paused;
window.onloadRetry = 0;
window.soundManager = new SoundManager();
    
soundManager.setup({
  debugMode: true,
  flashLoadTimeout: 0,
  flashVersion: 9,
  preferFlash: true,
  useHighPerformance: true,
  waitForWindowLoad: true,
  //url: 'http://alvaroveliz.cl/uploads/streaming/bower_components/SoundManager2/swf/soundmanager2_flash_xdomain/',
   url: 'http://ivdemo.chaseits.co.uk/SoundManager2-2.97a.20131201/swf/soundmanager2_flash_xdomain/soundmanager2_flash9_debug.swf',
  onready: function(){
    is_paused = true;
    soundManager.createSound({
       id: "streaming",
       serverURL: "rtmp://149.56.16.148:1935/radioz/",
       url: [{
         type: "audio/mp4",
         url: "radioamor.stream"
      }],
      whileplaying: function(){
        pos = durationFormat(this.position);
        dur = durationFormat(this.duration);
        $('.time').html(pos.m+':'+pos.s+' / '+dur.m+':'+dur.s);
      }
    });
  }
});

function durationFormat(msecs)
{
  var secs = msecs / 1000;
  var hours = Math.floor(secs / (60 * 60));
  
  var divisor_for_minutes = secs % (60 * 60);
  var minutes = Math.floor(divisor_for_minutes / 60);
  
  var divisor_for_seconds = divisor_for_minutes % 60;
  var seconds = Math.ceil(divisor_for_seconds);
  
  var obj = 
  { 
    "h": intToString(hours), 
    "m": intToString(minutes), 
    "s": intToString(seconds) 
  };
  
  return obj;
}   

function intToString(time) 
{                
  return (parseInt(time) < 10 ? ("0" + time) : time);       
}


$(document).ready(function(){

  // funcion play / pausa
	$('.buttons-play').on('click', function(){
    if (is_paused) {
      $('.title').html('Radio Amor');
      soundManager.play('streaming');
      is_paused = false;
      $('.buttons-play span').removeClass('fa-play');
      $('.buttons-play span').addClass('fa-pause');
    } else {
      $('.title').html('Radio Amor (pausado)');
    	soundManager.pause('streaming');
      is_paused = true;
      $('.buttons-play span').removeClass('fa-pause');
      $('.buttons-play span').addClass('fa-play');
    }
  });
  
  // funcion stop
  $('.buttons-stop').on('click', function(){
		soundManager.stop();
    is_paused = true;
    $('.title').html('Radio Amor');
    $('.buttons-play span').removeClass('fa-pause');
    $('.buttons-play span').addClass('fa-play');
  });
  
  // volumen
  $('.volume input[type=range]').on('change', function(){
    soundManager.setVolume($(this).val());
  });
});

<div id="player">
  <div class="buttons">
    <a href="#" class="buttons-play"><span class="fa fa-play"></span></a>
    <a href="#" class="buttons-stop"><span class="fa fa-stop"></span></a>
  </div>
  
  <div class="volume-and-time">
    <div class="time">00:00 / 00:00</div>
    <div class="volume">
        <input type="range" name="points" min="0" max="100" value="100">
    </div>
  </div>
  
  <div class="title">
      Radio Amor
  </div>

</div>

body {
  font-family: 'Quicksand', 'Helvetica', sans-serif;
}
#player {
  border : 2px solid #ddd;
  background: #DDD;
  width: 400px;
  border-radius: 5px;
  padding: 20px;
  position: relative;
  box-shadow: 1px 1px 1px #444;
  .buttons {
    a {
      display: inline-block;
      border: 2px solid #373B41;
      position: absolute;
      span {
        color: #373B41;
      }
      &.buttons-play {
        width: 40px;  
        height: 50px;
        border-radius: 60px;
        padding-left: 25px;
        padding-top: 15px;
        font-size: 2em;
        .fa-pause {
          margin-left: -5px;
        }
      }
      &.buttons-stop {
        width: 25px;
        height: 28px;
        border-radius: 40px;
        padding-left: 13px;
        padding-top: 10px;
        top: 35px;
        left: 100px;
      }
    }
  }
  .volume-and-time {
    display: inline-block;
    position: absolute;
    top: 20px;
    right: 20px;
    .time {
      text-align: right;
      color: #999;
    }
    .volume {
      margin-top: 20px;
    }
  }
  .title {
    border-top: 1px solid #CC6666;
    padding: 10px;
    margin-top: 80px;
    text-align: center;
  }
}