If you are a fan of The Flaming Lips, then you probably know that both lead singer Wayne Coyne Steven Drozd have been joining Miley Cyrus on stage at her recent shows. Then it leaked that they were recording a cover of The Beatles’ “Lucy in the Sky with Diamonds” with MGMT lead singer Andrew VanWyngarden.

Now its surfacing that the cover is actually part of a larger project put on by the Lips. The five-piece band plans to completely remake the whole Sgt. Pepper’s Lonely Hearts Club Band album released by The Beatles in 1967. In addition to Cyrus and MGMT, they have apparently been working on bringing in acts such as Tame Impala, Phantogram, and Zorch to collaborate with.

The Flaming Lips are no strangers to covering classic albums, or The Beatles for that matter. Last New Year’s Eve they played an entire set of Beatles covers, and in 2009 they created a track-for-track reimagining of Pink Floyd’s s masterpiece The Dark Side of the Moon.

The Flaming Lips w/ Sean Lennon “Lucy In The Sky With Diamonds” on David Letterman:

Check out Wayne Coyne and Steven Drozd perform “Yoshimi Battles the Pink Robots” w/ Miley Cyrus recently:

– Patrick Loftus

[via Consequence of Sound]