[ Law & Ethics ] Open Question : Is it legal to record songs you bought?

Some of you know that songs from itunes have this drm thing which pretty much means you can't do nothing wit the song except put on your ipod or something like that. I don't wanna remove the drm cause I'm not gonna go breaking the law. But would it be alright if I used audacity or some other program to record the song if I had already bought it?