Titled Songs of Ascent, it had been set for a 2010 release, and with the band set to tour in May time is running out.
And Jay-Z fears it could be down to something he said.
'One night I ran into Bono and he told me he'd read an interview I'd done,' he told The Sun.
'The writer had asked me about a U2 record [No Line on the Horizon] that had just been released and I said something about the pressure a group like that must be under just to meet their own standards.??
'Bono said the quote had really gotten to him and he decided to go back to the studio, even though the album was already done, and keep reworking it 'til he thought it was as good as it could possibly be.
'I was surprised that at that point in his career he still got anxious about his work.'