The pop trio are being joined by a host of other acts - including Bon Jovi and Nicki Minaj - to create the download only album, with all the proceeds raised donated to the Japanese Red Cross to assist those affected by the natural disaster which devastated the country on March 11.
It is hoped the album will be available for global release by the end of the week, with all the artists lending tracks waiving their royalties in aid of the cause. It has not, however been confirmed what tracks any artists are to donate, and if they will have previously been released.
A spokesperson for Universal Music said: "We are doing it only digitally because it is faster, and this will be a worldwide release. The plan is to have it available later this week."
Meanwhile, R'n'B star Ne-Yo is carrying out charity work while he tours the devastated country.
He said: "Music breaks down barriers. Whether it be language or race, people don't understand how powerful it is.
"You can spread love through music. That's what's called for during this time of crisis."
It was also announced this morning (22.03.11) that Primal Scream, Paul Weller and Beady Eye are among the acts who will play a one-off gig in London to aid victims of the natural disaster which has left tens of thousands feared dead and hundreds of thousands without homes.