The 66-year-old British rocker - whose daughter Kimberly is currently expecting her first child with actor Benicio Del Toro - said that he plans to have a nice day out on the buses with his friends in London.
Appearing on UK TV show Daybreak, he chortled, 'I'm going to be a grandfather, I've been waiting for that for so long - that and getting my bus pass - the two things I was looking forward to getting.
'Will I use my bus pass? I intend to. I'm going to get on a bus and I'm going to go from Epping to Hackney with some of my mates. Treat them to a day out.'
The father-of-eight, who is now married to 40-year-old Penny Lancaster, said that one of the perks of fatherhood is getting to embarrass his brood with his old-fashioned gadgets.
'I don't have an iPod and I don't have a mobile phone,' he explained. 'The kids are so embarrassed - we went to the beach the other day, I got my CD player and the BIG earphones and they're so cool with their little earphones.'