The new album apparently would be released by next year, reported Ace Showbiz.
"They're working on an album together. We all know what Jay-Z did with Samsung last year, we all know Beyonce came out of nowhere (with a surprise album release), but this secret would top all of them, even that new U2 album," a source said.
The album will be Beyonce and Jay-Z's first collaborative LP. The couple previously worked together on a number of hits including 'Drunk in Love'.