Legendary singer Elvis Costello is set to guest on the new Fall Out Boy album, Pete Wentz has revealed.

The 54-year-old London born singer will provide backing vocals alongside other Decaydence artists to a track on the band's fifth record 'Folie a Deux', which is set for release on November 5.

Wentz let slip about the collaboration to absolutepunk.net, saying that the news was probably going to leak anyway.

In a statement, the bassist said: “At some point everyone is gonna find out. So, I guess its time to let the cat is out of the bag. We didn't want to talk about this before we actually heard it because its a once in a lifetime experience.

“We've announced a couple of guests on the record but "I wish you luck with a capital F" is just one of the thousands of genius ideas thought up by Elvis Costello and he's gonna be singing on Folie a Deux.

“This isn't a typical appearance as he's alongside the guys in a couple of the Decaydance bands on the song. Either way this has been an amazing experience for fall out boy as he is one of our heroes, especially so for Patrick. We can't wait for you to have the chance to hear it.

Other acts set to appear on the album include Lil Wayne, Panic at the Disco, Pharell and Debbie Harry.

(by Scott Colothan)