R.E.M decided to split months ago

R.E.M star Mike Mills has spoken out about the band's decision to split after 31 years, insisting it's time for the existing three founding members to go their separate ways.

In an exclusive Rolling Stone interview, the guitarist revealed there was no truth in reports he, Peter Buck and Michael Stipe had fallen out.

"It's not because we have to or we can't stand each other or we suck. We're happy. But we're done," he said.

And he admitted it was a tough decision: "There is sadness because I will never play on the same stage as Peter and Michael again.

"(But) we're doing this for good reasons, and we end up looking back at all the fun, the joy and the incredible opportunities we had."

He revealed the decision was made several months ago - before the trio reconvened for a recording session, during which he and his bandmates created three new songs for an upcoming greatest hits package.

Mills said the band delayed the announcement of the split because "a lot of people are affected by this decision in a serious way (and) we wanted everything set up the way it should be".

The 40-track double album hits compilation, R.E.M, Part Lies, Part Heart, Part Truth, Part Garbage, 1982 - 2011, will be released in October. It will feature the band's final single, We All Go Back To Where We Belong.

R.E.M's first single, Radio Free Europe, which also appears on the album, was released in 1981.

- AAP