The former Velvet Underground singer and the heavy metal titans will be performing together on Later... to promote their new collaborative album Lulu, set for release on October 31.
Reed has already called the unlikely collaboration the "best thing I ever did" and UK viewers will have the opportunity to see for themselves when they grace the Later... studio.
Other guests in series 39 include Coldplay, Red Hot Chili Peppers, Laura Marling, Bjork, Little Dragon, Tony Bennett, Peter Gabriel, Florence + The Machine, Jill Scott and The Brandt Brauer Frick Ensemble.
The new nine-week series starts on Tuesday September 20. As in previous years, a live edition on Tuesdays to be followed by an expanded hour-long show on Friday night.
The Later... website (www.bbc.co.uk/later) will again feature exclusive content from each week's show.
Series 38, which aired this spring, saw Later debuts for Ed Sheeran, Anna Calvi, James Blake, Warpaint, Yuck, Maverick Sabre and Beady Eye, as well as appearances from the likes of Adele, Elbow, PJ Harvey, Arctic Monkeys and The Strokes.
Later... began in October 1992 and is series produced by Alison Howe, executive produced by Mark Cooper and directed by Janet Fraser Crook. It is now the longest-running music show in British TV history aside from Top of the Pops.