NEW YORK (Billboard) - Canadian rock band Arcade Fire's new album, "The Suburbs," is set for release on August 3, the group's Merge Records label said Thursday.

"The Suburbs" is Arcade Fire's follow-up to "Neon Bible," which hit No. 2 on the Billboard 200 in March 2007 and has sold 421,000 copies, according to Nielsen SoundScan. It comes out two days before the band performs at the Lollapalooza festival in Chicago.