(CNN) Bob Dylan will not travel to Sweden to receive his Nobel Prize for Literature in person, the Swedish Academy announced in a statement Wednesday.

In a letter to the organization, which awards the Nobel prizes, Dylan explained he is unable to attend the ceremony in Stockholm next month due to "pre-existing commitments."

Dylan, the Swedish Academy said, "feels very honored" by the award and wishes he could be there in person to receive it.

The organization added that there have been other Nobel laureates in the past who were unable to attend the ceremony -- and the prize is still awarded. The only requirement is that Dylan present a Nobel Lecture within six months.

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