Brooklyn-based indie-rockers The Hold Steady have been through Memphis a couple of times (I caught them a few years ago at the Hi-Tone), and they were good enough to mention our city in the title of a song from their 2008 album "Stay Positive." So here is The Hold Steady, performing "Sequestered in Memphis" on Yahoo's The New Now site.
A couple of other clips from the session are also on The New Now, and you can download the audio for free. Stereogum has additional commentary.
Remember, Memphis claims to have the most mentions in song of any city (I think the going number these days is 899)!