Rumours had been circulated informally for a while but now it looks to have been confirmed and paperwork finally penned.
The first release will be recent collaborative album The Flaming Lips And Heady Fwends, coming on 30 July.
Flaming Lips frontman Wayne Coyne tweeted the following late last night:
And then Scott called to say we are now on Bella Union in the U.K. and Europe! twitvid.com/YH0ZO
— Wayne Coyne (@waynecoyne) June 12, 2012
This is how Coyne supposedly “took the news”: