The Irish group are presently recording their 13th album - which has The Working Title 'Songs Of Ascent' - with the producer and musician, who is also one half of the groups Gnarls Barkley and Broken Bells.
Lead singer Bono told Theage.com: "We have about 12 songs with him. At the moment that looks like the album we will put out next, because it's just happening so easily."
The new album by the band is one of three projects they are presently working on. Bono has also previously talked about how the band are making a "club" record with dance/pop producers including will.i.am of Black Eyed Peas, Lady GaGa's producer RedOne and ubiquitous hitmaker David Guetta.
Bono has said the group has "a pile of songs" for the album and that he was inspired by the remixes produced for the band around the time of their albums 'Achtung Baby', 'Zooropa' and 'Pop' in the 90s. Bono added: "U2's remixes in the 1990s were a real treasure. So we wanted to make a club sounding record."
The third album is the conceptual soundtrack to Bono and guitarist The Edge's Spider-Man musical, which is due to open on Broadway in New York next month, although the singer admits he has had trouble convincing the band's drummer, Larry Mullen Jr. about it yet.
He has said: "We haven't convinced the rest of the band to do that yet. Larry definitely has a raised eyebrow."
The band's manager, Paul McGuiness has previously said he thinks the band's next album will be out in "early 2011 before the next leg of the American tour, which starts in May."