The only information I have on this vacuum is that the model is extremely rare and is only seen on the oreck website from 2001 on the beloved wayback machine.
Dirt Cheap FM radios were a thing back then. Without further details this is an educated suspicion on what it is.
The radio was likely a simple radio that ran off of two AAA batteries and was operated independently of the machine, but built into the handle. The headphone cord was likely used as the antenna. The radio likely had digital tuning with a scan and reset button. Scan allowed you to scan the band and find the station, reset allowed you to start over at the beginning of the band.
These cheap radios were everywhere and they were given away as trinkets, sold dirt cheap, there was even a Game Boy Color version that plugged into the link cable port for power. I have posted an Alibaba link to show you an example of the ones given away as trinkets, the light is more common today, but back then it wasn't as common (and was incandescent).
Definitely is not a silly idea. I always listen to music when I work. I have my Zune on all the time while I do yard work and stuff. I would use this vacuum every day if I could find one.