I see this misused on otherwise brilliant blogs all the time. I'd like to offer quick help to resolve the burning question: It's or its?
It's = It is (or it has). Every single time.
Its = Possessive. Every single time.
If you can't decide which to use, just remember it's is a contraction and it's= it is (or it has as in "it's been raining"). If that's not it, it's its. Got it?
Now, it's (it is) time for a little Friday entertainment from my favorite band, The Shine (my girl is its drummer), performing its original song, "Going Nowhere."
UPDATE: New song (poor picture quality due to low lighting at venue) but still a good song.