Motorola has today announced Motoactv, a small iPod nano-shaped device with built in sensors and music playing technology to “enhance your workout.” The device holds up to 4000 songs and packs an FM radio and ‘audio coach’.

The F700 Bluetooth headset also features a wireless heartbeat monitor that the device uses to monitor your condition as you run. Both of these devices integrate with the Motoactv web portal to track your workout and give you stats.

It was announced at the “Life M Powered” event in conjunction with Verizon. The device was introduced by Motorola Mobility CEO Sanjay Jha.

“We can create intuitive hardware and software to help enhance your workout experience,” said Jha, we have created the ultimate fitness device and music player in one. The device runs on Android, of course.

The device is 46mm by 46mm and weighs 35 grams. It has an ear-based hardware monitor that is housed in the headset, which also takes calls. It will monitor your workout and the songs that you listen to while you do so and can play you the music that motivates you to push yourself in your workout.

The device will be available for $199 in an 8GB version and $299 in a 16GB version.

Also on hand at the event was Google’s Eric Schmidt. Google is in the process of finalizing the purchase of Motorola Mobility for $12B.