I know I wouldn't do it but the ultimate decision is yours.
From a creative POV, I don't like the idea of my script relying on something that I haven't written to make its point.
But there are a lot of practical reasons why I wouldn't as well. What if the reader hates the idea of me putting a song in? Worse, what if a reader hates that song! If I put a song in, will the reader think, "This guy's referenced a song that would cost half a million dollars to licence, what does he know about scriptwriting and filmmaking?" And of course, by the time the script is optioned, bought, green-lit, produced, edited and shown, the song may have become irrelevant or replaced with something more appropriate or cost-sensitive.
Why not subsititute something generic and then mention your preference when you get optioned?
INT. KITCHEN - DAY
Jack is making breakfast. Israeli trance music plays on the radio.
But if you feel you must, I'd suggest going no further than naming the song title and artist.
INT. KITCHEN - DAY
Jack is making breakfast.
Yesterday by The Beatles plays on the radio.
Putting actual lyrics into your script seems like overkill. I've seen it done in plenty of pro scripts but if I were a reader, unless I LOVED the song, I'm likely just going to skim them. I'm certainly not going to start humming or break into song.
My two cents, VMMV.