UPDATE (8/7/12): We have official confirmation that the alleged collaboration between Eminem, Lady Gaga and Kendrick Lamar is not happening and is just a rumor. So keep on dreaming, folks.

Thanks to a blurry twitpic from the studio, we were already looking forward to a likely collaboration between Lady Gaga and rising Compton rapper Kendrick Lamar (especially after their too-cute meet-cute at Pitchfork Festival). Now, not only is their collab really happening, it’s reportedly getting an extra dose of hip-hop power thanks to Eminem.

Speaking to MTV Rap Fix (according to Popdust), Eminem supposedly revealed that he, Gaga and Lamar have recorded a song together called “Street Lights”, a new tune that, according to Em, will “definitely” become a single.

Said Mathers to MTV RapFix (again, via Popdust):

“Yeah, I got this crazy record with Gaga and Kendrick for the upcoming LP”, Eminem told MTV Rapfix early Saturday morning. “Its called “Street Lights”, and its just a real upbeat record.” When asked if the collaboration would be be released as a single, Em said, “Definitely. We don’t have a release date yet, but it’ll be after Slaughterhouse’s album.”

There’s no indication if “Street Lights” would be for Eminem’s upcoming solo album or Gaga’s forthcoming ARTPOP, but the “after Slaughterhouse’s album” comment seems to indicate that he is talking about his solo LP.

Last year, Eminem allegedly sparked some beef with Lady Gaga by dropping a (pretty lame) diss in his Bad Meets Evil song “A Kiss”: “Tell Lady Gaga she can quit her job at the post office / She’s still a male lady” Em raps on the track.

The rapper later explained that he thinks Gaga is “dope” and “an incredible talent.” “That was one of them things where sometimes I get a joke in my head and I kinda want to share it with the world, you know what I’m saying,” he said of the rhyme. “So it was just one of them things man, and it’s you know it’s all in fun, it’s hip hop.”

Though we might’ve blinked at Eminem collaborating with Gaga if the MC was in the Slim Shady days of his career — anti-gay, anti-women, violence-promoting raps don’t really mesh well with an anti-bully advocate like Gaga — the rapper has softened up over his last few albums, and has happily teamed up with all sorts of pop regulars, such as Pink, Rihanna and Bruno Mars. Pairing up with Gaga isn’t much of a stretch. The pop gal we’d be absolutely shocked to see work with Eminem is Mariah Carey, especially after that whole “Obsessed” drama and the years-long fallout from their (non)relationship. Now that would be a jaw-dropping collaboration.