Justin Timberlake Returns with Hot New Single

01/14/2013 at 07:25 AM EST

Justin Timberlake: Suit & Tie Debuts
Inset:Joe Scarnici/Wireimage
What a comeback!

After announcing on Thursday his plans to return to music, Justin Timberlake has finally let fans hear what he's been cooking up in the studio: a new single titled "Suit & Tie," which he posted on his website Sunday night. (It can be heard there.)

And if the news of his first song in seven years wasn't enough, the track – a funky, futuristic R&B number about hitting the dance floor with a special lady – also features a guest spot from Jay-Z.

Timberlake, 31, marked the release of "Suit & Tie" by posting an open letter to fans. And the singer says he'll release a new album this year – his first since 2006's FutureSex/Lovesounds. The title: The 20/20 Experience.

"Back in June of last year, I quietly started working on what is now, my next journey with the thing I love called MUSIC," he writes. "The inspiration for this really came out of the blue and to be honest, I didn't expect anything out of it."

"Suit & Tie" is available for download on iTunes now.

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