Miley Cyrus and Flaming Lips are recording a cover of one of The Beatles' most iconic songs.

The hit and headline maker and the US rock band have announced they have teamed up in the studio to recreate the Fab Four's Lucy In The Sky With Diamonds.

The song, shrouded in controversy due to alleged drug references, featured on The Beatles’ spectacularly successful 1967 Sgt Pepper's Lonely Hearts Club Band album, but was never released as a single.

It’s been covered many times, most notably by Elton John, and his version featured Beatle John Lennon on backing vocals and guitar by John Lennon, under his pseudonym Dr Winston O'Boogie.

Lips’ frontman Wayne Coyne took to Instagram to announce the collaboration with Cyrus and posted a picture of her in the studio.

Coyne accompanied with the caption: "Miley in the studio vomiting diamonds while singing Lucy In The Sky With Diamonds!! If you're a Beatles and John Lennon freak you gonna love love love this track!! Got Andrew from MGMT too!!!!".