LOADED, the band formed by current VELVET REVOLVER bassist Duff McKagan (on guitar and vocals) after he left GUNS N' ROSES, is currently working on a new, yet-to-be-titled studio album, to be released in the summer, with tours to follow.

LOADED was formed in 1999 and has morphed several times, releasing two albums: 1999's "Live Episode" and 2001's "Dark Days". The group's current lineup includes drummer Geoff Reading (NEW AMERICAN SHAME, GREEN APPLE QUICKSTEP), bassist Jeff Rouse and guitarist Mike Squires (both formerly of ALIEN CRIME SYNDICATE).

VELVET REVOLVER guitarist Slash recently told Billboard.com that he is ready to make the group's third record sooner rather than later, hoping to avoid the two-and-a-half year gap between the band's 2004 debut, "Contraband", and last year's sophomore effort, "Libertad". The band is touring until April, and the guitarist said that they're likely to hit the studio right after that. "I'm really jazzed about doing it," he said. "I've, you know, been working on new ideas, and had a couple times where the guys all got together and worked on some stuff. I'm itching to see what this third record's gonna be, 'cause I think it's gonna be awesome, and I think that we don't need to necessarily spend two years on the road like we did last time."

Slash said that the group did not have any songs in finished form, but only basic ideas and arrangements.

VELVET REVOLVER's exact recording plans for its third effort could be affected by singer Scott Weiland's recent announcement that a reunion of his previous group, STONE TEMPLE PILOTS, was on tap for later this year.

Watch LOADED performing the song "Seattle Head" in Tokyo, japan: