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Flaming Lips to Cover Pink Floyd’s Dark Side of the Moon

According to an L.A. Times report, the Flaming Lips are set to follow-up their life- (and death)-affirming LP Embryonic with a full-album redo of Pink Floyd’s gazillion-selling 1973 psych-rock classic Dark Side of the Moon.

The Lips version of Dark Side is a collaboration with the band Stardeath and White Dwarfs (which includes Wayne Coyne’s nephew Dennis Coyne as a member), and features guest spots from Henry Rollins and Peaches. It will most probably be an iTunes-only release.

The announcement was made last night during a Q&A session with fans at a MySpace show last night at L.A.’s Nike/Ricardo Montalbán Theater. (Check out photos from the gig after the jump and in the photobook here.)

Other tidbits revealed: While Embryonic was the final album of the Flaming Lips’ current contract with Warner Bros., they plan on sticking with the label for future releases.