The pop punk group's bassist - who recently teamed up with Cheap Cuts on the track 'Check Your Phone' - has teased fans about a deep concept he is for his debut solo album, which he has promised to release if there is no change in the government's guidelines to stay at home during the coronavirus pandemic.
The 'Uma Thurman' rocker also revealed he and electronic duo Cheap Cuts - comprised of Jonny Harris and Jack Leonard - have a second song on the way.
On releasing a solo LP, he said: ''It would have to feel right. I have a space in my head that's always been more of an album.
''I have a concept for it, I have a lot of time on my hands and I kinda want to do it.
''Are we going to be in our houses for another six months? If we are, there's going to be an album.
''I also have one other song I want to do with Cheap Cuts.
''Sonically, it's an expansion on 'Check Your Phone' but thematically it's about that first five minutes in the morning when you wake up and you're in that post-dream state.''
Expanding on the concept and referencing Ethan Hawke's 1994 flick 'Reality Bites', which has influenced his idea for the record, he added to NME.com: ''There's this bit in the movie 'Reality Bites' where Ethan Hawke's character talks about seeing his dad after he found out he had cancer.
''They'd talk about life and he gave Ethan's character a pink seashell to help explain things.
''He realised the shell is empty and maybe life is pointless.
'''It's all a random lottery of meaningless tragedy in a series of near escapes', he says.
''That's why he enjoys the little things in life, like eating a burger or smoking a cigarette.
''I think there's a whole record from that perspective, taking part in these little pieces of life without the consequence.
''It's important to not forget those little granular moments of life. To me, there's a record in that pink seashell.''
As well as Fall Out Boy, Pete was previously in Black Cards with pop star Bebe Rexha during the group's hiatus between 2009 and 2012.
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