Justin Timberlake and Jay-Z are packing their suits and ties – as well as a 10-piece band – and hitting the road together.

The pair have performed together three times in recent weeks – at a concert in New Orleans the night before the Super Bowl, at the Grammy Awards and at an electrifying post Grammy sold out show at the Palladium in LA on Sunday.

But that was just a preview of what's to come: Timberlake, 32, and Jay-Z, 43, will visit at least 10 cities during a stadium tour together, sources tell PEOPLE.

Jay-Z is featured on Timberlake's comeback album The 20/20 Experience, Timberlake's first new album in seven years.

Details of the tour, including the specific itinerary, have not yet been released.

Two fans who might be particularly pleased about the news? The musicians' wives, Jessica Biel and Beyonce who have recently become friends too.

Justin Timberlake has finally let fans hear what he's been cooking up in the studio: a new single titled "Suit & Tie," which he posted on his website Sunday night. http://countdown.justintimberlake.com/

And if the news of his first song in seven years wasn't enough, the track – a funky, futuristic R&B number about hitting the dance floor with a special lady – also features a guest spot from Jay-Z.

Timberlake, 31, marked the release of "Suit & Tie" by posting an open letter to fans. And the singer says he'll release a new album this year – his first since 2006's FutureSex/Lovesounds. The title: The 20/20 Experience.

"Back in June of last year, I quietly started working on what is now, my next journey with the thing I love called MUSIC," he writes. "The inspiration for this really came out of the blue and to be honest, I didn't expect anything out of it."

"Suit & Tie" is available on itunes now.

Jessica Biel's had some shining moments on the red carpet, but the 30-year-old actress admits to InStyle that her fiance, Justin Timberlake, is actually more stylish.

"I'll be honest: He has better taste than I do!" Biel told the magazine in its August issue, adding that Timberlake also picked out her engagement ring.

"I had no say whatsoever ... He is fearless in his choices and has a real eye for design," she said, noting that he'll also pick out her outfits.

"When I walk out of the closet after getting dressed in the morning, I'll go like this," she said, miming the gesture of turning her palms up as if to question the ensemble. Timberlake, though, will sometimes shake his head "no," and "then he picks again," Biel said. "It's hilarious."

But while they may not always be on the same page sartorially, Biel says that they both make an effort to make time for their relationship.

"The best thing I learned from [my parents] is that you have to put your relationship first. It is really easy to let that go by the wayside," she said. "Justin and I have a rule that we don't let a certain amount of time go by without seeing each other, but it doesn't always work. But from here on out, I want to participate in making smart choices for the relationship."

And as for whether kids are in their future, Biel says she's always envisioned building a family in a place similar to Colorado, where she grew up.

"I would like those future little people to have the experience I had, in some capacity. It was fun," she told InStyle. "I love Colorado; I've always thought that could be a possibility for me."

Read the full story at The Marquee Blog