The Flaming Lips have made the most out of the year so far, playing plenty of shows and releasing their Record Store Day-exclusive album, 'The Flaming Lips and Heady Fwends.' Now the band reveals that it's putting the finishing touches on a new studio album that may be released in late 2012.

Speaking to Rolling Stone, frontman Wayne Coyne has talked up the as-yet-untitled disc. "We did a session last week, and when we get a free couple weeks at the end of July we'll finish it up," he says. "I honestly think it might be the best Flaming Lips record that we've ever made."

Considering how revered their past records are, like 1999's 'The Soft Bulletin' and 2002's 'Yoshimi Battles the Pink Robots,' this is a bold claim made by Coyne. A lot of the material recorded for the upcoming album was made during the 'Heady Fwends' sessions, which will see a formal release on June 26 after its limited availability on Record Store Day.

"It really took us by surprise," Coyne says of the new tracks. "We were kind of making it like we were sleepwalking. Things happen when you're making lots and lots of music and working with lots of freaky people. It sends you off in directions that you would not think of. That's the magic of music."

The Flaming Lips have another huge event to look forward to as they try to break the world record of the most shows played in a 24-hour period. The endeavor starts June 27 in Memphis, Tenn. and will hopefully end a day later in New Orleans, La. The band is looking forward to the challenge, despite knowing there is a chance they could come up short.

"It could be a way that we might do tours from now on," Coyne says. "It's strange on a lot of levels, which intrigued us the most. Even if we screw it up and aren't able to get the actual record, it will still be an insanely marvelous 24 hours of Flaming Lips music."