The news was confirmed on Twitter by Julie Pilat, one of the station's music directors.
'Scream and Shout' is the second time the duo have collaborated, the first being on Spears's seventh studio album Femme Fatale with 'Big Fat Bass'.
The music video, which was shot in October and reportedly includes professional dancers and fire-breathers, will also premiere next week, three days after the song is released to airwaves.
The video will be shown during The X Factor USA's Thanksgiving episode on Wednesday (November 21), according to Billboard.
The song will be released as a single and included on the rapper's new album #willpower.
Listen to previous collaboration 'Big Fat Bass' below: