The Stone Roses are set to return to the studio for the first time in 16 years as they will begin recording new material for an album due for a 2013 release, The Sun reports.

Following the band's hugely successful homecoming gigs at Manchester's Heaton Park, followed by an on going summer that includes a number of festival stop offs, they now look to replicate their winning ways and record their third studio album.

The Manchester band's debut, self-titled album was released in 1989 and has since been declared one of the greatest British records of its time by various sources; however their second release, 1996's Second Coming, was far less well received.

The band - consisting of Ian Brown, John Squire, MANI and RENI - have apparently been considering making the move back into the studio for some time, and a source close to the band revealed to the Sun that both John and Ian have been trading ideas with each other for some time now.

In further Stone Roses related news, the band is set to headline a secret gig sponsored by Adidas in London this week to coincide with the Olympics, although it isn't much of a secret anymore.