Justin Timberlake debuted a new song, an album title and a rough release date late Sunday night, following last week's announcement that he's "ready" to record new music.

"Back in June of last year, I quietly started working on what is now, my next journey with that thing I love called MUSIC," he wrote [3] in an open letter to fans.

Also read: Justin Timberlake is 'Ready' to Record New Music (Video) [4]

"What I came up with is something I couldn't be more excited about," he continued. "I'm calling it 'The 20/20 Experience,' and it's coming out this year."

While it's not clear exactly how long fans will have to wait for Timberlake's third full-length studio album, fans can already listen to and purchase the first single, "Suit & Tie."

And they aren't hesitating to do so. The song, which features Jay-Z, is currently the number two top download from the iTunes Store [5], while Taylor Swift's "I Knew You Were Trouble" still reigns supreme. 

Timberlake's follow-up to 2006's "FutureSex/LoveSounds," wasn't exactly planned, either. According to him, it "really came out of the blue."

"The inspiration for this really came out of the blue and to be honest, I didn't expect anything out of it," Timberlake explained. "I just went into the studio and started playing around with some sounds and songs. It was probably the best time I've had in my career... Just creating with no rules and/or end goal in mind and really enjoying the process."

He's not the only big name in music making a comeback after a long hiatus.

Destiny's Child is releasing [6] their first new recording since 2004 later this month and, rumor has it [7], may reunite on stage during Beyoncé's Super Bowl Halftime Show on Feb. 3.