Ólöf Arnalds’ next release will be an EP of covers, where the Icelandic singer/songwriter rephrases songs by Bob Dylan, Bruce Springsteen, Arthur Russell, Neil Diamond and more using her spare, acoustic arrangements. Hear a cover of Neil Diamond’s “Solitary Man” as well as a cover of Bruce Springsteen’s “I’m On Fire” (with a bonus live video) after the jump.

“Solitary Man”

“With Tomorrow” (Gene Clark Cover) / “I’m On Fire”

And here’s a live video of the “With Tomorrow” / “I’m On Fire” medley:

The Ólöf Sings EP is out 11/08 on One Little Indian Records.