Your dreams of being in a rock band is alive once again as "Rock Band 4" will be released for Xbox One and PlayStation 4 later this year, IGN confirmed.

Harmonix Music Systems Chief Creative Officer Alex Rigopulos said about the new release, "When we stopped developing Rock Band 3 [in 2010], clearly the market needed a break. But since then we've been paying close attention to what our community has been saying about it. There's been this steadily growing crescendo of fans saying, 'Hey Harmonix, what the hell? It's time! Why haven't you announced a new Rock Band? We're ready for it!'"

However, there are some limitations about the release. According to the website, purchased songs from previous versions may not make it all to the new generation of consoles. Licensing restrictions makes "Rock Band 3" on-disc music unavailable for "Rock Band 4" although Harmonix is said to be trying to make that deal possible.

Compatibility of the old "Rock Band" instruments is also unconfirmed, as apparently, Xbox One and PlayStation 4 use different wireless communication controls. Rigopulos assured players, however, that Harmonix is in active discussions with Sony and Microsoft about getting permission for adaptors that will allow last-gen instruments to work with the new consoles.

He explained, "It is a challenge, but it's something that [Sony and Microsoft are] working actively with us on. I am confident that we'll be able to find workable solutions."

Rolling Stone noted that the last "Rock Band" version came out in 2010, with the downloadable additions continuing until 2013. However, news of another version returning to game consoles came last year when Harmonix reportedly added new songs to the library.

Producer and product manager for "Rock Band 4," Daniel Sussman, gave insight about the company's desire to tap into relationship cultivation with music, explaining that they are focused on the user interface and innovation for now.

Sussman said, "There are a number of areas that we're focusing on in terms of innovation, one of which is sort of a player to player dynamic and creating a little bit more awareness of what other players in your band are doing. You know, there's this reality when you're playing - and you're playing on expert - you're trying really hard not to break your streak, you're sort of focused exclusively on what it is you're doing. And we're looking at ways to sort of open up your peripheral vision a little bit, and just like being in a real band, there's value to paying attention to what other folks in the band are doing... Another area is sort of player expression and trying to figure out how to allow a player to put their mark on the song."

More details are expected to be announced at this year's E3 Expo at the Los Angeles Convention Center on June 16.

You can preorder the game here.