Balladeer's eye is running (7)

I believe the answer is:

orbison

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'balladeer's' is the definition.
I don't know anything about this answer so I can't judge whether it can be defined by this definition.

'eye is running' is the wordplay.
'eye' becomes 'orb' (I've seen this before).
'running' becomes 'on' (eg when a machine is running it is on).
'orb'+'is'+'on'='ORBISON'

Can you help me to learn more?

I've seen this clue in The Independent.

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