Los Angeles, Nov 7 : Singer Elton John is releasing new music with Bernie Taupin. The music legend, 76, took the stage at the Barclays Center in Brooklyn recently to induct his close friend and longtime songwriting partner, Bernie Taupin, into the Rock and Roll Hall Of Fame. In his speech, Eltonrevealed that the duo -- whose music partnership spans over 50 years -- had just finished a new album, reports People magazine. We've just finished an album in Los Angeles, which is going to surprise the s--- out of you,' Eltontold the audience in fan-recorded footage of the event. Referring to his swearing, he then joked, 'Oops I can't say that.' It's absolutely wonderful, and it's full of youth, and it's full of vitality," Eltonsaid of his forthcoming album. "It's a wonderful place to be after we've been together for 56 years.' As his speech came to an end, Eltondescribed Bernie as 'one of the finest lyric writers of all time'. As per People, he then revealed that each time he sings one of Bernie's songs, he finds new meanings in them. 'He's always been generous, and when I've crossed out verses, crossed out lines, he's just gone with the flow and he's trusted me,' Elton added. 'And that trust has spilled into our friendship.' Back in May, Bernie, 73, who has co-written the majority of Elton's hits such as 'Rocket Man',' 'Honky Cat', 'Crocodile Rock', and 'Daniel', also hinted at a new project when he discussed his induction into the Rock and Roll Hall Of Fame. /IANS