Although Sony’s Native RSS reader can only access Music, Videos and Photos, you can however use the Internet Browser to read RSS News Feeds. Follow the instructions below to get yourself started:

1. Go to Google Reader and register an account.
2. Add your selected News RSS feeds or search using Google’s RSS Feeds Search feature.
3. On your PSP, point the Internet Browser to http://www.google.com/reader/m/.
4. Bookmark the link for easy access, and you’re done!

Although the above example uses Google’s RSS Reader, there are several RSS Readers accessible to the PSP. Have a look around on the net.