Billboard.com is reporting that Perry Farrell's new band SATELLITE PARTY has signed with Columbia, which will release the group's self-titled debut album later this year. The project boasts guest appearances by RED HOT CHILI PEPPERS members Flea and John Frusciante, plus NEW ORDER bassist Peter Hook. The group also features former EXTREME guitarist Nuno Bettencourt.

"It's going to be a solid group with both female and male players," Farrell told Billboard.com, "and it's going to be very live and very powerful. But we want to add a nice, healthy dose of female energy into it, especially female voice, because it's wonderful for chorus. We're chock full of great, grand songs."

Among the tracks set to appear on the album are intended first single "Dogstar", "Hard Life" (which features Frusciante), "Milky Avenue" and "Awesome".

SATELLITE PARTY made its live debut at last year's Lollapalooza festival in Chicago, with tentative plans to appear at this August's event as well.

The singer also told Billboard that a JANE'S ADDICTION boxed set is in the works, along with DVD releases of Farrell's 1989 short film, "Soul Kiss", and 1993 movie "Gift".

As previously reported, Farrell will deliver the keynote address at upcoming CMJ Rock Hall Music Fest, to be held June 14 at the Rock and Roll Hall of Fame in Cleveland. Farrell's DJ alter ego Peretz will man the ones and twos along with Mike Boogie and Prince Paul during the festival's opening night shindig, according to MTV.com.