Aerosmith's Steven Tyler and Joe Perry and Foreigner's Mick Jones and Lou Gramm will be honored tonight (Thursday) in New York City when they are inducted into the Songwriters Hall of Fame.

They will all be on hand to accept their awards as well as performing. For Jones and Gramm, this will be their first performance together in 10 years. Gramm tells us, "I think that night is gonna be very special and I don't see any need to mend any fences. I think our relationship is a careful friendly."

Also being honored are Elton John and Bernie Taupin with the Johnny Mercer Award. Both are expected to attend.

Presenters include Billy Joel and Sting.

The ceremony takes place at the Marriott Marquis Hotel in Times Square. However, there is no physical hall of fame. It currently only exists online.