Chris J. Shull’s Get Lyrical v0.8 AppleScript will attempt to get the lyrics of the currently playing or selected tracks from searchlyrics.org and store them in the track’s lyrics tag.
To use, you simply put this script in your iTunes Scripts folder. This is located in user name > Library > iTunes. If there is no folder named “Scripts” there, create one and put the script in it. It will then appear in iTunes’ Script menu, where you can activate it by clicking on its name. While a track is playing, or while one or more tracks are selected, run the script. Lyrics, if found, will be imported to the currently playing or selected tracks’ lyric tags in iTunes.
iTunes 5 required.
More info and download link here.
pearLyrics 0.5 freeware released: looks up lyrics for Apple iTunes songs – September 12, 2005