Elton John Mulling Ronson Collaboration

Elton John may enlist producer Mark Ronson to work on his next studio album, which is being penciled in for release in late 2009 by Universal.

"They like each other and know each other well. There's been lots and lots of conversation, but nothing is finalized yet," a source close to the artists tells Billboard.

The as-yet-untitled album will be the follow-up to 2006's "The Captain & The Kid," which has sold 151,000 copies in the United States, according to Nielsen SoundScan.

As usual, John is busy with numerous projects. His collaboration with the Killers and the Pet Shop Boys' Neil Tennant, "Joseph, Better You Than Me," is available through the new (RED)WIRE digital service, and will see wide release on Dec. 16.

Meanwhile, John is the first guest on Elvis Costello's new show, "Spectacle," which premiered tonight (Dec. 3) on the Sundance Channel. And his New Year's Eve show at London's O2 Arena will be broadcast live on ITV1.

As previously reported, John and Billy Joel will reprise their successful co-headlining tour beginning March 2 in Jacksonville, Fla.