Well, after doing a bit of digging (I’m a ■■■■■■ for media streamers…), I see that LMS is open source, implemented in Perl.
So that ‘big, fat no’ only applies to the simple, install a ready-made app using a nice app installer built in to the Dashboard.
If you’re prepared to get your hands dirty in the nonstandard Debian Wheezy Linux build environment of the MyCloud, you might be able to get it running.
Or find someone who has already done it, or may be able to do it. There are a few users here who have worked Linux magic to build apps to run on the MyCloud. They have to be built specially, as the page size is different from that used by standard Debian package repositories. For instance:
Or search for threads starting with ‘[APP]’ on this forum.
ps. There are threads here discussing installing LMS on MyBook Live and MyCloud. My advice is to be very wary of threads predating V4 firmware MyClouds (when the nonstandard page size was introduced). Following these old instructions could brick your device. e.g.