LOS ANGELES, CA Tuesday Jan.16.2007 /netmusiccountdown.com/ -- Lollapalooza founder Perry Farrell is hard at work on his latest project, a new band called Satellite Party, and has brought in some celeb guests to help out.

The former Jane's Addiction and Porno For Pyros frontman is teaming up with Flea of The Red Hot Chili Peppers, Fergie of the Black Eyed Peas, and New Order/Joy Division bassist Peter Hook on the debut record, called "Ultra Payloaded." The album is scheduled to drop in May.

But for now, you can catch the Satellite Party's debut during the 2007 ESPN Winter X-Games on January 25th, live from Aspen, Colorado.

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