Iggy Pop is the joint recipient of the 2022 Polar Music Prize.

The 74-year-old Grammy-winning punk legend and the French chamber orchestra Ensemble intercontemporain are set to receive one million Swedish Kroner (£83,060/ $110,602) as part of the honour.

The prestigious prizes will be handed out on May 24 at Stockholm's Grand Hotel.

The 'Lust For Life' hitmaker - who is often dubbed 'The Godfather of Punk' - said: “I was aware of the very fine range of people that had gotten the Polar Music Prize… so it’s a nice step for me. I respect it and I’m honoured by it … I’m looking forward to coming to Stockholm in May to receive the Prize.”

Matthias Pintscher, musical director of Ensemble intercontemporain, commented: “I’m beyond excited to be coming to Stockholm in May to receive the Polar Music Prize in honour of the Ensemble intercontemporain.”

Marie Ledin, managing director of the Polar Music Prize, added: “We are delighted to return in 2022, after a two-year absence due to the pandemic, with two incredibly worthy Laureates. Iggy Pop is unique, there is no one else quite like him. Ensemble intercontemporain are a ground-breaking collective and their work has helped push the boundaries of modern classical music. We’re thrilled that we can come together to honour and celebrate the important work of both of these Laureates.”

Previous recipients of the Polar Music Prize, include Sir Paul McCartney, Bob Dylan, Sting and Joni Mitchell.

The Swedish award - which is known as the Nobel Prize of Music - was founded in 1989 by Stig Anderson, best known as the manager of Swedish pop icons ABBA.

Beatles legend McCartney, 79, received the first award in 1992.

The prize is given to a contemporary musician and one classical musician.