'Ashes in the Air' will feature on the band's Record Store Day project The Flaming Lips And Heady Fwends, which includes duets with the likes of Ke$ha and Nick Cave.
The band's frontman Wayne Coyne revealed that they are hoping to include the actual blood of their collaborators for their album's special edition.
"What I'm going to try to do - and I'm collecting stuff for it as we speak - is I'm going to try to make a record that has every person's blood in the record," he explained.
"I don't have everybody's blood just yet, but I collected quite a few vials of blood and it's actually sitting in my refrigerator as we speak... I'm going to try to take that same concept and put little bits of everybody's blood in the middle of this record. Like a glass specimen thing."
Coyne has so far collected vials of blood from Ke$ha, Neon Indian and Prefuse 73. Only five or six 'blood discs' will be made for purchase.
The Flaming Lips will perform at this year's Parklife festival in Manchester alongside Chic and Dizzee Rascal.
Listen to 'Ashes in the Air' below: