A street in New York has been temporarily renamed U2 Way to celebrate the release of the Irish band's new album, 'No Line On The Horizon'.

The band joined Mayor Michael Bloomberg at a ceremony on 53rd street yesterday (March 3rd).

"The Beatles had Penny Lane, Elvis lived on the end of Lonely Street," Bono told a crowd of fans.

"We're here somewhere between 10th Avenue and funky, funky Broadway, somewhere south of Duke Ellington Way and north of Joey Ramone Place we find ourselves ... where the streets have no name."

According to the Reuters news agency, the street will be named after the group for one week.

As previously reported, U2 are currently performing a five-night residency on The Late Show with David Letterman, which is filmed on 53rd street.

(by Jason Gregory)