Elton John is teaming up with country music icon Dolly Parton for an upcoming new song

Music legends Elton John and Dolly Parton have teamed up for the first time to release an upcoming song together.

At an Oscars launch party hosted by his eponymous AIDS foundation, the 75-year-old “Tiny Dancer” singer reportedly revealed the big news: that he had already done a new song with the 77-year-old country singer.

The Your Song hitmaker apparently told party guests who attended his star-studded bash that his song is coming soon.

“Elton is a huge fan of Dolly,” a source revealed to The Sun. After all, he is a gay icon.

An official release date for the new song has yet to be announced, but their collaboration is expected later this year.

At an Oscar viewing party hosted by his eponymous AIDS foundation, Elton John, 75, reportedly revealed the big news: that he had already made a new song with Dolly Parton, 77.

The source also revealed that as soon as Elton heard that Dolly wanted to collaborate with him, he immediately jumped at the opportunity.

“He heard that she wanted to work with him and jumped at the chance,” they said.

The source also added: “Elton loves to collaborate and who better to do so than a bona fide music legend?”

Rumors have circulated that they worked together to remix a version of Elton’s 1974 hit single Don’t Let The Sun Go Down On Me.

Dolly previously said that she wanted Elton to appear on her next album of rock covers.

While making an appearance on the BBC The Zoe Ball Breakfast ShowParton confirmed that she would cover Elton’s song and approached him for a duet.

“I just recorded for my rock album and I did the (Elton’s) song, Don’t Let The Sun Go Down On Me,” Parton said.

“And I sent a message asking if he would sing with me and possibly play the piano,” she added.

He also encouraged people in Elton’s inner circle to deliver a message: ‘So if you see him, say Dolly wants you to sing on his record!

“So anyway, but I love him, just tell him to enjoy it because it was so much fun for me,” she said.

In an interview with USA Today, revealed that their double album will be titled ‘Rock Star’. “An ironic title,” she said, noting that the 28-track album is expected in late summer or early fall.

When asked how far along he was on the album at the time of the article’s publication in January, he said it’s a must-see full of musical icons.

Upcoming collaboration: The Your Song hitmaker apparently told party guests who attended his star-studded bash that his song is coming soon

Duet: Dolly previously said she wanted Elton to appear on her next album of rock covers.

Coming Soon: In an interview with USA Today, he revealed that his double album will be titled ‘Rock Star’. “An ironic title,” she said, noting that the 28-track album is expected in late summer or early fall.

“I have Elton (John) and Paul McCartney,” he replied. Stevie (Nicks) and I did our song together a couple of days ago.

“Miley (Cyrus), John Fogerty, Joan Jett, Pink, Brandi Carlile,” she added.

“We have a lot of iconic artists singing a lot of iconic songs,” Dolly continued. “Hopefully we get Annie Lennox, her and Cher doing (Eurythmics song) Sweet Dreams Are Made Of This.

“There are some covers and some of the big artists are also singing on my originals,” he joked.