Madonna, Britney Spears Discussing Collaboration

Sources familiar with talks say artists plan to record together in May.

It's fairly common for great divas to collaborate: Whitney and Mariah, Brandy and Monica ... Redman and Method Man.

It looks like Madonna and Britney Spears may be the latest addition to that list. A source familiar with the project told MTV News that Spears has put aside a couple of days in May to hit the studio with Madonna.

Managers for each of the artists said the two have been talking but that nothing is set in stone.

Spears' third album is slated to be released in late spring or early summer, which means fans might hear the results of the collaboration on the teen singer's new disc.

The two have been vocal in their affinity for one another and have been spotted wearing each other's T-shirts in public. Madonna came to Spears' defense in an interview published this month in Elle magazine. She told the publication, "I find it really irritating that everyone beats up on Britney. I want to do nothing but support her and praise her and wish her the best."

The feeling is mutual, as Spears has said that Madonna taught her a few lessons about self-expression. "She does what she likes and she doesn't care what anybody thinks," Spears said of Madonna. "She's like, 'This is me — you like me or you don't.' "

Despite the harmonious vibes, Madonna and Spears will compete with one another in the Best Female Pop Performance category at this year's Grammy Awards.