It's official! After much teasing and speculation Jay-Z and Justin Timberlake have  announced they will be hitting the road together on the Legends of the Summer Tour. The 'Suit & Tie' singer and rapper will hit a total of 12 venues across the U.S. and Canada.

Rumors first started swirling after HOV and JT's Grammy performance of 'Suit & Tie,' when Timberlake told the press, "We’re definitely going to go on tour. I don’t know how much I should say. It’s going to be a lot of fun, I know that.”

Earlier this week, it was announced that both Justin and Mr. Carter would be headlining different nights of the Wireless Festival in London, which further added to speculation that these two were cooking up something big. We thought it odd that JT's own website spotlighted Jay-Z's performance at the Wireless Festival, so perhaps it's no surprise that they have finally announced their tour together.

The Wireless Festival is July 12-13, so the guys' North American dates will probably fall directly before or after that, though nothing concrete has been announced yet.

We're sure tickets for this endevour will not be cheap, so start saving your pennies now and hope for good weather! Most of the venues are outdoor, so concertgoers will likely be dealing with the elements.

The Legends of the Summer Tour Venues:

Bronx, N.Y. | Yankee Stadium
Hershey, Pa. | Hershey Park Stadium
Philadelphia, Pa. | Citizen Bank Park
Baltimore, Md. | M&T Bank Stadium
Chicago, Ill. | Soldier Field
Detroit, Mich. | Ford Field
Pasadena, Calif. | Rose Bowl Stadium
San Francisco, Calif. | Candlestick Park
Miami, Fla. | Sun Life Stadium
Boston, Mass. | Fenway Park
Vancouver, B.C. | BC Place Stadium
Toronto, Ont. | Rogers Center

Watch the Justin Timberlake 'Suit & Tie' Video Feat. Jay-Z