According to a recent interview with lead singer Brendon Urie, Panic! At The Disco have finished recording their new album and hope to have it out in early 2011.

"We've had a collection of many songs for about a year and a half, but have actually been recording our third album for only six months. We feel it sounds much different than both our previous records. I think that's always been a goal of our band; challenging ourselves to do something we haven't before. We've recorded all the music and are preparing for mixing. We hope to see it released early next year."

You can read the complete interview here.