Today Sprint Nextel is releasing a new product called The Airave which is designed to boost cell phone signals in homes and buildings.

The Airave will be available for sale in Denver and parts of Indianapolis and increases cell phone reception up to 5,000 square feet. It can handle up to three calls at once. Airave uses a customer’s existing broadband connection, sending unlimited calls through the Internet instead of over Sprint’s wireless network. Airave works with any Sprint cellular phone, but isn’t compatible with Nextel phones.

The Airave is available for $49.99 (not including incentives or rebates) and has a monthly charge of $15 for individuals and $30 for families. For the time being, it is only available in these test markets, but the company is hoping is hoping to have a nationwide rollout of the Airave in 2008.

For more information, please visit Sprint.

Tags: electronics, tech