U2 to cover Sgt Pepper's?

To mark the occasion, BBC Radio 2 has recruited Oasis, Kaiser Chiefs, The Killers, Razorlight, James Morrison, Travis and The Fratellis to re-record the album on the same gear that the Fab Four used.
“We had a mixing desk with eight inputs and the drums were recorded in mono,” says Geoff Emerick who’ll be reprising his role as Sgt. Pepper’s audio engineer. “We’ve borrowed the original desk from Mark Knopfler’s studio and will complete the recordings at Abbey Road.”
The word on the industry grapevine is that, in a reprise of their Live8 collaboration, the title-track will be made-over by U2 and Sir Paul McCartney.
The new version will be aired on June 2 with BBC insiders predicting a massive 20 million-plus audience.