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Just two months after news of their collaboration was revealed, seen on Intrumania here back in June, Metallica and Lou Reed have set a date for the release for the album they recorded.

The official website of the project reveals the release dates are set for October 31st worldwide, and November 1st in the US.

The project, entitled "Lulu", will feature 10 tracks all based on the music and lyrics originally written out by Reed for a theatrical production in Berlin. Following on from Reed's concerts with Bay Area thrashers Metallica in 2009, for the Rock and Roll Hall of Fame, everyone involved had a hunger to make more music together, the efforts of which we'll be treated to this Fall.

Reed recently told New York magazine that the project is "maybe the best thing done by anyone, ever", perhaps a testament to how free from boundaries Lars Ulrich says Metallica feel about working with the legendary former Velvet Underground guitarist.

Following a recent blod post on Metallica's site, the Bay Area thrash masters have revealed they have put together a 10-track album's worth of material for a forthcoming release, working with The Velvet Underground's legendary guitarist and vocalist Lou Reed on the new material. And it seems they can't wait to share their new stuff with their army of fans either.

In an excerpt from this blog post, the band reveal just what they've been getting up to over the last few months:

"Ever since we had the pleasure of performing with Lou at the 25th Anniversary of the Rock and Roll Hall of Fame at Madison Square Garden in October of 2009, we have been kicking around the idea of making a record together.

Some of you astute Bay Area residents may have picked up news of recent Lou Reed sightings in the greater San Francisco area and we have indeed been working at our home studio at HQ on and off over the last few months.

In what would be lightning speed for a Metallica related project, we recorded ten songs during this time and while at this moment we're not exactly sure when you'll hear it, we're beyond excited to share with you that the recording sessions wrapped up last week."

Also, as the photo above reveals, it would appear James Hetfield is getting into the groove with his new signature Snakebite guitar from ESP, released at this year's NAMM show, as we revealed here previously.