Scooter,
I have a 1954 truck 6v radio that was repaired and FM added - about $300, 12 years ago (I'll check to see if the company is still around). Getting iPod capability is a little unlikely, but, who knows???
Maybe someone will post first-hand experience with a company that did the FM add-on for them.
I encourage you to keep the radio.
You have an especially cool truck - a family heirloom.