The collaboration between Metallica and Lou Reed will be called Lulu, and will be released November 1st. The news comes straight from the new Reed-Metallica website, which says
“The musical collaboration between Lou Reed and Metallica, “Lulu,” is coming your way this Fall and this space will be your spot for all things Loutallica(!). We want to start sharing with you just how the “Lulu” project, recorded at HQ just a few short months ago, is coming together. As you can see this site is a work in progress and the plan is to build it before your very eyes. Please bear with us while we piece it all together!”