The 'Toxic' hitmaker - who is currently in the middle of her two-year residency show 'Britney: Piece of Me' at Planet Hollywood in Las Vegas - will release the ''undeniably great'' track with the Aussie-born star early next year.
Iggy, 24, confirmed the news to the Daily Star newspaper: ''We have a song which is going to be her first single coming out next year. It's undeniably great. It's a really fun track.''
Britney - who is currently working on her ninth studio album - has previously expressed her desire to work with the 'Fancy' singer, as well as 'Roar' hitmaker Katy Perry.
She said: ''I would love [to work with] Katy Perry, I would love to do something with her. And Iggy.''
The currently unnamed track will be the 33-year-old's singer's first offering since the release of her eighth studio album 'Britney Jean' which, despite spawning the hit singles 'Alien' and 'Work Bitch', became her lowest-selling record of all time.
She also hinted that fans should expect a change of direction with the new record, steering away from her trademark pop sound, saying: ''I want to do something very artsy fartsy, something I've never done before.
''Even if it's just take a left lane and go for a little bit of rock or rock-pop. Just do something that's kind of out there and different.''
He'll be performing a new residency at an intimate theatre.
Queens of the Stone Age front man Josh Homme has described their new music as ''an experience''.
Vicky Cornell explains that they're planning to pay tribute with a sculpture.
It's their first foray into television.
Luc Besson has loved the Valerian story for many, many years.
With clips from more than 200 teen movies made in the decade after 1995's Clueless,...
The cameo-driven, "Mission: Impossible 2"-spoofing, movie-within-a-movie, pre-title sequence of "Austin Powers in Goldmember" is the...
Freshly graduated from jail bait status, Britney Spears wastes no time getting down to her...