FM will work. No experience with the tuner cards. Some TV tuners do this.
XM is hard, but doable with the old USB tuner. It took me ages to get my USB one, which btw, works fine on Linux There is a Java frontend to send the signal to select a new channel and to scan the channels available for feed info.
AM probably will not work. At least not well. Oddly the only computer that AM likes is my iMac. My Macbook, my Toshiba Satellite, homebrew tower, homebrew htpc all hate AM. Leaked RFI, that is for sure, and is worse due to the harmonic frequencies I am thinking. Since a particular band (3GHz AMDs) of frequencies seem to be the worst in interfering with my radios.
What I do now is use a portable shortwave radio from Radio Shack that does AM and FM to get my fixin of AM talk. I do plan to stop using rechargeable batteries and manufacture a USB interface, but that isn't done yet.