Limp Bizkit will collaborate with Lil Wayne on their next single.

The "Faith" hitmakers have joined forces with the rapper for "Ready To Go," which will drop next week and marks the group's first release since they signed a record deal with Cash Money Records.

"It'll be a great way to let the world know that [Limp Bizkit] is a part of us. It's rock but it's hip-hop-rock. I think we got that hip-hop-rock swagger," said label founder Brian "Birdman" Williams.

The music executive also hinted the group - who were dropped by Interscope Records in 2001 following poor sales of their sixth album Gold Cobra - are planning to record a new LP: "They're just gonna go in and get it done. We're looking to put an album out this year. [Frontman] Fred [Durst]'s all the way in - he understand what we're about, hard work and dedication. To me, they're one of the hardest workers in the business."

Although Cash Money is a hip-hop label, Birdman believes Limp Bizkit is the "perfect match":

"If we find some great talent, we're gonna embrace it. Limp Bizkit, to me, is just a perfect match for us. It was something that [Durst] was interested in doing, and I was already a fan, and I was like, 'Let's do it.' It's good for the brand, it will bring a different look for us, and we're definitely trying to expand on that side of music."