The Smashing Pumpkins have been gone for seven years, but they've got a much-anticipated new album called Zeitgeist due in about two months. So what better time to pay tribute to Billy Corgan and company than ... well, right now?

That's the thinking behind an upcoming Pumpkins tribute project, spearheaded by MySpace and featuring acts like Panic! at the Disco, 30 Seconds to Mars, (+44) and the Academy Is ... taking cracks at their favorite SP tracks.

According to a source at MySpace, the project (currently known as, uh, "The MySpace Smashing Pumpkins Tribute Project") will launch on May 14, when each of the participating bands will post a Pumpkins cover on their respective MySpace pages. The songs will then be collected onto a CD, which will be included in newsstand editions of July's Spin magazine (that issue will feature each of the bands talking about the Pumpkins' influence on them).

And who exactly are those bands? Well, early reports linked My Chemical Romance to the project, but according to both MySpace and MCR's management, the band has not contributed a song. MTV News' source at MySpace provided a list of 12 of the participants plus the songs they've chosen to cover. Note: 30 Seconds to Mars haven't announced their song yet — we know of no Pumpkins song called "(track TBD)."

· Panic! at the Disco: "Tonight, Tonight"
· (+44): "I Am One"
· The Academy Is ... : "Mayonaise"
· Deftones: "Siva"
· 30 Seconds to Mars: (track TBD)
· The Bravery: "Rocket"
· Young Love: "1979"
· The New Amsterdams: "Thirty-Three"
· Test Your Reflex: "Ava Adore"
· Ben Kweller: "Today"
· Hawthorne Heights: "Bullet With Butterfly Wings"
· Gliss: "Rhinoceros"

As mentioned earlier, the re-formed Smashing Pumpkins will release Zeitgeist on July 7 (see "Smashing Pumpkins Drummer Offers More Clues About Forthcoming LP"). The band recently announced a string of festival appearances, including the U.S. leg of the Live Earth concert series on July 7 (see "Kanye, Fall Out Boy, Kelly Clarkson Lead Live Earth's U.S. Lineup") and the Virgin Festival near Baltimore on August 4-5 (see "Amy Winehouse, Wu-Tang Clan Fill Out Virgin Fest Lineup").