Fans will be hoping that the dream record is one day released.
The rapper sat down with the New York Times' Dean Baquet for an in-depth interview, where he revealed the couple had worked on music together around the time Beyonce was recording her groundbreaking album Lemonade.
There is a Jay-Z and Beyonce joint album
When asked if he and Beyonce had discussed how open they would be about their marriage problems on their respective albums Jay answered: "It didn't happen in that way.
"We were using our art almost like a therapy session. And we started making music together. And then the music she was making at that time was further along. So her album came out as opposed to the joint album that we were working on.
"We still have a lot of that music. And this is what it became. There was never a point where it was like, 'I’m making this album.' I was right there the entire time."
When asked about their reactions to each other's work Jay admitted it "was very uncomfortable" but added he was "really proud of the music she made, and she was really proud of the art I released."
"You know, most people walk away, and like divorce rate is like 50 percent or something ’cause most people can’t see themselves," he added.
"The hardest thing is seeing pain on someone’s face that you caused, and then have to deal with yourself."
Jay also used the interview to discuss his relationship with Kanye West, revealing that they had spoken "the other day."
"I love Kanye. I do. It's a complicated relationship with us," he continued. "In the long relationship, you know, hopefully when we're 89 we look at this six months or whatever time and we laugh at that. You know what I'm saying? There's gonna be complications in the relationship that we have to get through," he explained.
"And the only way to get through that is we sit down and have a dialogue and say, 'These are the things that I'm uncomfortable with. These are the things that are unacceptable to me. This is what I feel.' I'm sure he feels that I've done things to him as well."
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