The American producer and actor posted a new mix of the track on the web earlier today, which also includes a rap.
Referring to Rihanna's breakthrough album, 2007's Good Girl Gone Bad, Cole rhymes on the song: "You used to be a good girl/ Don't matter/ Since you gone bad/ You only got better."
'S&M' is the third track lifted from the star's latest record Loud, and is due for release later this year. The track's video clip is currently being shot by director Melina Mastoukas.
Rihanna is due to perform at this year's Brit Awards at London's O2 Arena on February 15.