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Madonna, Mariah, Beyonce and other superstars are set to record a Michael Jackson tribute album, according to The Daily Star.

A source told the paper, “The idea came from the memorial concert. Many fans asked if cover versions would be released and it seemed a wonderful idea. Some the biggest stars in the world have indicated they’d like to take part to pay their own respects and tribute to the King of Pop. This covers album is sure to be a massive worldwide hit with fans and could raise a fortune for Michael’s favorite charities.”

The source said that Whitney Houston, Robbie Williams, Diana Ross, Lionel Richie, and Britain's Got Talent's Shaheen Jafargholi are some of the other names expected to participate.

Madonna is apparently preparing to record either Beat It or Billie Jean, Mariah will sing I'll Be There (which she's already covered in the past), Robbie Williams is taking on The Man in The Mirror and Shaheen Jafargholi will sing Who's Loving You (the song he performed at the MJ memorial).

In addition to the album, many of the stars will be taking part in a tribute concert with members of Michael's family at London's O2 arena. That show is scheduled for August 29th, which would have been the singer's 51st birthday.