Jay-Z and Kanye WestJay-Z and Kanye West are set to release their highly anticipated joint album, 'Watch the Throne,' within a week. West made the grand announcement while celebrating New Year's Eve in Las Vegas.

While performing his hit 'Runaway' and 'Monster' with Jay-Z, West took the opportunity to share with the audience at Marquee that the collaborative project would be coming sooner than expected. "We got that new 'Watch the Throne' comin' in one week," he said, smiling at the crowd.

West first revealed the project's existence in August, when he announced on his Twitter account that he and Jay-Z would be dropping the five-song mini-album, with the first single set to be 'Monster.' He later announced that the EP would be turned into a full-length album, and headed to England with Jay-Z to work on the LP.

West has said the album is "going to be very dark and sexy, like couture hip-hop."