The Stone Roses are set to release a new album - their first since their 1994 hit Second Coming.

The new material will be timed to coincide with the Manchester-based band’s five UK gigs later this year.

Fans have been hoping for news of a new album since the band announced they were reuniting in 2011.

The Stone Roses, consisting of vocalist Ian Brown, guitarist John Squire, bassist Mani and drummer Reni, released their first album in 1989.

They split in 1996 following a bitter fall out, but made a comeback three years ago.

They went on to perform a series of UK festival dates, including three homecoming shows in Manchester.

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A source said: “Ian Brown and the lads have been busy getting their next album ready. It will be album number three.

“It’s a long time coming but they feel the time is right now.

"They’ve been back in the studio. Everyone is very excited about it.”

Bass player Mani teased fans last year when he said the group had been “working on a few bits” after being asked about the possibility of a new release.

A spokesman for the band declined to comment tonight.

The band will play Scotland's T in the Park this summer, along with four sold-out nights at Manchester City's Etihad Stadium.