According to a recent Rolling Stone interview with legendary bassist Mike Watt (Minutemen, Firehose), who has been playing with the Stooges since 2003, says the group is working on new material.  

"I'll tell you this: James Williamson a few months ago had me put bass on nine songs that he gave to Ig [Iggy Pop] and Ig is writing up words," says Watt, who's played with the Stooges since 2003. "So I just know there are new tunes and in fact in November he wants me to do some more. I don't know about some album or whatever or what the plan is with that stuff, but very interesting."