I was finally able to get rid of the popping sounds.
I opened the control panel in windows VISTA and shut down all Apple Programs like ituneshelper, iPodservice.
Make sure you select check the box "show all processes from all users".
Also I suspect that any of the running 'processes' that ping the internet ( like checking for program updates or validations) could be a reason for a streaming recording disruption.
Hope this helps,
AC