The Arcade Fire's forthcoming The Suburbs, due August 3, is a very big record, one they're celebrating with a pair of very big shows at New York's Madison Square Garden. And somewhat fittingly, they've found a very big director to work with at those gigs.

According to The Associated Press, Terry Gilliam — the former "Monty Python" standout and the man behind such films as "Brazil," "12 Monkeys," "The Fisher King" and "Fear and Loathing in Las Vegas" — will direct a live webcast of the band's August 5 show at MSG, as part of a new series called "Unstaged."

The webcast of the show (the band's second of two at the Garden), will stream live on a special YouTube page at 10 p.m. ET. According to reports, the performance will feature "special guests" and will allow viewers to select multiple camera angles and submit photos of their own "suburbs," which may be featured on stage during the band's performance.

In an e-mail to MTV News, a spokesperson for the Arcade Fire confirmed that the band is working with Gilliam on the project.

The collaboration with Gilliam is just the latest instance of the Arcade Fire teaming with a high-profile director. Last year, they re-recorded a version of their song "Wake Up" for use in the trailer of Spike Jonze's "Where the Wild Things Are," and then, in April, a spokesperson for Jonze told MTV News that the director was returning the favor by shooting a "short film" for the Suburbs album.

So far, the Jonze-directed short has yet to surface. According to early reports, it was shot in Austin, Texas, apparently features "mostly late-teen actors" and revolves around a concept of "friends growing apart."