The 55-year old clult singer/songwriter says he's "OK" with the tragic news...

WARREN ZEVON, best known for the hit ‘WEREWOLVES OF LONDON’ and his work with members of REM, has been diagnosed with cancer.

Zevon’s lung cancer is terminal, and the singer plans to spend his remaining time with his two children, Jordan and Ariel, as well as recording a number of new songs.

In a statement announcing his illness, the 55 year-old joked: “I’m OK with it, but it’ll be a drag if I don’t make it ’till the next James Bond movie (‘Die Another Day’) comes out.”

Zevon is something of a cult artist in the UK, but ‘Werewolves of London’ was a hit in America in 1978. During his career he also collaborated with REM, replacing Michael Stipe as singer in a side project named Hindu Love Gods. The three members of REM also featured on his 1987 album ‘Sentimental Hygiene’.