Flaming Lips To Cover Stone Roses Debut Album?

I’m starting to think the Flaming Lips are feeling a bit upstaged by My Bloody Valentine: Just this morning we got an announcement that the band was releasing a compilation of love songs encased in an anatomically correct chocolate human heart for Valentine’s Day, and now, we’re seeing pretty convincing indicators that they’re covering the Stone Roses’ classic 1989 debut in its entirety.

The above pic was posted by Wayne Coyne on his Instagram on 1/28, with the caption from Wayne, “Doin vocals for She bangs The Drum hopin to get Channy of Polica to sing on it too!!!!”

On Sunday, Flaming Lips-dedicated blog Future Heart posted a video on YouTube, about which they write:

…watch HOTT MT and New Fumes record “I Am The Resurrection,” the former mix “I Wanna Be Adored” with Stardeath, and the latter work on “Bye Bye Badman.” Norman, Oklahoma shoegaze band Depth & Current (or as Wayne calls them, “Blobs from Heaven”), Def Rain and surprise guests are also contributing

The blog includes more details of the recording, including tweets from Lips colleagues Stardeath, Matt Duckworth, New Fumes, and Coyne himself, which seem to corroborate the story. FWIW, I’m a pretty big Roses fan, and what little is here sounds damn good to me. Watch the vid below, while waiting, patiently if puzzled, for more news.