A nano-sized oscillator for RF applications is presented which is based on two spintronic effects, the tunneling magnetoresistance (TMR) and the spin momentum transfer torque. The oscillation frequency is several GHz and can be tuned by both a DC bias current and an external DC magnetic field. High compactness, high tunability and full compatibility with standard CMOS process make this spin torque nano-oscillator (STNO) a promising candidate for future RF transceivers. The main issues to be addressed are spectral purity and output power. First measurements on a hybrid built connecting the STNO to a dedicated wideband amplifier show that today's performance in terms of power is close to but not yet compatible with telecommunication standard requirements. Using time domain analysis we show that frequency fluctuations are an issue for spectral purity. Frequency synthesis concepts based on STNOs are also discussed.