The former Velvet Underground frontman passed away at the age of 71, five months after undergoing a liver transplant, and The Who, The Pixies and Weezer were among the first acts to express their sadness at the news online.
Messages of condolence have continued to flood in from celebrities far and wide, and now Aerosmith singer Tyler has taken to his Twitter.com blog in memory of his late pal, writing, "Rip to a great friend a fellow musician. From maxes to the masses you made the world sing. I love you Lou!"
Veteran British pop star Rhodes has shared his favourite memory of Reed with fans via Duran Duran's website, revealing he first bonded with the late star after inviting him to play with the Rio hitmakers at a charity gig back in their 1980s heyday.
He writes, "It was quite surreal for everyone in the band, as less than a decade earlier, we had been fans listening to his music in our teenage bedrooms. Lou turned up at the Beacon Theatre with his guitar and amplifier to soundcheck, we rehearsed Walk on the Wild Side and Sweet Jane together, he was thrilled with the arrangements we had done, so we parted company for a few hours and next met, later that evening onstage.
"When Simon (Le Bon, singer) introduced our hero, Lou, my heart sank as it sounded as though the entire audience began to boo. Lou was unfazed and smiling, so we launched into the songs. It wasn't until afterwards when the sound of the crowd intensified, that I realised they were all affectionately shouting Lou, not boo... Long live Lou Reed!"
Meanwhile, The Recording Academy boss Neil Portnow has issued a statement on Reed's passing, hailing the Grammy winner as "an exceptionally gifted singer, songwriter, and musician", adding, "We have lost a true visionary and creative leader, and his groundbreaking work will forever hold its rightful place in music history."
Actors Alec Baldwin and Susan Sarandon, director Wes Craven and electro-pop pioneer Gary Numan have also tweeted tributes, while Cyndi Lauper posts, "I still can't believe Lou Reed passed away. I'm sorry for his family's loss. greatful (sic) for his music and the influence he had on my music", and Nikki Sixx shares, "Rip Lou Reed.Thank you for your beautiful/dark lyrics/music and stance on life.You inspired me from my teenage years right up till (sic) today."