Kanye West and John Legend are currently in the midst of recording an album together. When completed, the record will be the second straight collaborative project for R&B singer Legend, whose most recent release, 'Stand Up,' was a collection of politically-minded songs recorded together with the Roots.

Legend just racked up three Grammy awards for 'Stand Up' at Sunday night's Grammy Awards when he spoke to MTV about his next project. "I worked with Kanye for a week, and I'm going back in March. We're really excited about it," he reports.

West is keeping very busy himself, as he plans to follow up last year's critically hailed 'My Beautiful Dark Twisted Fantasy' album by teaming up with fellow hip-hop icon Jay-Z for the upcoming 'Watch the Throne' record.

When asked what role West will perform on his album, Legend explains, "we worked together pretty closely on it, he's executive-producing it, and co-writing a lot of stuff with me, and I think it's going to be fun. We have some good songs, got some good records that I really like."

On top of this, West apparently plans to release another solo album during the summer of 2011, and there's been talk of a second Legend/Roots team-up as well. In other words, music fans, you may want to expand your record-buying budget a little bit this year.