I figured it out on my own, thanks anyways. I created a disc image (.sd2f) in Toast 7 and then mounted it with toast. iTunes picked it up instantaneously.

I'm looking for a way to make image files of audio cds that i could mount (virtually) on Tiger. What I want to be able to do is mount the cd, then rip it into itunes without having to burn it to a disc. is their some way to do this? THANKS!