Apparently the new Soundtrack of Our Lives record will feature guest appearances from Kevin Rowland (Dexy's Midnight Runners), Art Garfunkel, Paul Simonon (The Clash) and Morrissey. No, really: http://www.sr.se/p3/musikjournalen/arkiv.asp?DagensDatum=2004-03-18&Artikel=386131 (in Swedish)
Or read the original article here on pg. 24: http://www.city.se/city.pdf
I guess they're working on 40-some songs and will be selecting 10-12 of the best for what will probably turn out to be a fall release.