Guns N' Roses' keyboard player Dizzy Reed said the classic band has new music in the works and thinks their next album could be out very soon, Rolling Stone reported on Sunday.

Reed added that the band is going through almost two albums worth of songs and picking which ones will be included on the next album.

"There's a lot of material that's already done and I think it's in the process of being finished and eventually we'll pick out which songs need to come out with which other songs," he said.

Reed is the most recent member to hint at a follow-up to the band's 2008 album, "Chinese Democracy." This summer, Rose lead fans to believe that the album's part-two was already finished.

"We recorded a lot of things before Chinese was out," Rose told Rolling Stone. "We've worked more on some of those things and we've written a few new things. But basically, we have what I call the second half of Chinese. That's already recorded. And then we have a remix album made of the songs from Chinese. That's been done for a while, too."

Guitarist DJ Ashba dropped news last month that the band was trying to hit the studio before the new year. He said Axel Rose has played him some new material that he enjoys, adding that he hopes he can "put my little stamp on it" before the album is finished, according to Ultimate Classic Rock.

Rose and Reed are the members of the band who stayed past 1997, giving more weight to statements regarding the new material. Fans waited 15 years between "The Spaghetti Incident" in 1993 and "Chinese Democracy."