Iggy Pop & Queens of the Stone Age's Josh Homme Teaming for New Album

Iggy Pop performs during his concert on the 4th day of the annual VOLT Festival in Sopron on June 2012. 

The rock gods are smiling upon us: Iggy Pop and Josh Homme of Queens of the Stone Age have teamed up for a new album. 

The new set, called Post Pop Depression, was recorded in secret sessions dating back a year. And in an interview with the New York Times revealing the news, the two heavyweights explained the new set picks up where Pop's 1977 David Bowie-produced solo album Lust for Life left off. 

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"Where those records pointed, it stopped.... But without copying it," Homme said, "that direction actually goes for miles. And when you keep going for miles you can't see these two records any more."

The set is scheduled for release in March on Loma Vista Recordings, with the band -- assembled with members of Queens of the Stone Age and some of Homme's other frequent collaborators -- making its debut Thursday night on The Late Show With Stephen Colbert

The collaboration spans back to a text message from Pop to Homme, basically just suggesting they get together write something. From there, they talked on the phone and Pop mailed Homme a package of quotations, poetry, potential lyrics and other writings, as well as details on Pop's two albums with Bowie. That laid the foundation for Post Pop Depression, which was self-financed and recorded between Homme's two studios in Burbank and Joshua Tree, Calif. The only ground rule was that neither would bring in completed songs. 

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"What happens after your years of service? And where is the honor?" said Pop, describing the album's concept. "In American life, because it's so hypercompetitive, what happens when you're finally useless to everyone except hopefully not yourself? What happens then? And can you continue to be of use to yourself? I had a kind of character in mind. It was sort of a cross between myself and a military veteran."

Home described it from a different perspective, calling Pop "one of the one-of-a-kinds." He said, "This is a much deserved victory lap for a man who's not sure if he won. But he did. He may have tunneled underground for lots of that, but he still got to the destination."

Read the full interview here