Ananova:

REM say they have recorded more than an album's worth of new material and it could be released later this year.

The band have been recording the follow-up to 2001's Reveal at Compass Point in the Bahamas, reports XFM.co.uk.

"We are about finished with the work here and will be heading across the water to Miami for the final phase of recording and mixing," a statement from the band reads.

"Compass Point has been a wonderful place to work, and the songs and sounds have really been flowing the past few weeks.

"They are making a very cool record with a lot of things that sound nothing like them, plenty of things that do, and a strong sense of melody throughout.

"If you are already an REM fan, I cannot imagine you not liking this one. If you aren't a fan, maybe you will be when you hear it.

"We are aiming for a fall release with concert dates to follow soon thereafter. We have been talking about touring plans and will be able to announce something fairly soon."

Songs expected to appear on the record include On the Fly, The Outsiders, Leaving New York, Wanderlust, Electron Blue, Aftermath and Magnetic North.