Pearl Jam guitarist Mike McCready updates the status on their currently in-the-works tenth studio album, which he says will probably not be finished this year.

Pearl Jam's upcoming tenth studio album was one of the most anticipated releases set for this year. Unfortunately for PJ fans, guitarist Mike McCready says that the anticipation will likely go unsatisfied until 2013. "Were probably not gonna have anything out this year," McCready tells Louisville, Ky., radio station WFPK. "Were trying to make this thing the best as possible that we can and we're taking our time with it. Like a slow-cooked turkey [laughs]. I don't know if that's the right analogy."

Despite all the various projects the members of Pearl Jam have in play -- Brad, Soundgarden, Eddie Vedder solo, etc. -- the guitarist says that they have already laid the groundwork for the new disc. "We've got about 15 ideas or so that were kicking around and Ed's working on. So yeah, that's where we're at -- we're doing a record right now and we're in the middle of it,"  says McCready. "I would say some [of the songs are] experimental, but some is pretty straight forward rock 'n' roll and some are some really beautiful ballads and such."

During the sessions for their previous album, 2009's 'Backspacer,' there was reportedly enough material recorded for a second album. "Two or three are from that," McCready reveals of the songs they're crafting for the new album. "We all brought in ten songs, five songs a piece to the band. So that's in addition to the two or three from 'Backspacer.' Sometimes the songs just don't make the record because they're not good enough for that record, but they may be good if you revisit them."

Pearl Jam will co-headline a pair of music festivals with Foo Fighters this summer -- the DeLuna Music Festival in Pensacola, Fla., and Atlanta's Music Midtown Festival. The band is also set for a European tour which begins in June.

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