AceShowbiz - Icelandic singer Bjork has been awarded Sweden's prestigious Polar Music Prize. The star will share the honor, which is handed out by the Royal Swedish Academy of Music, with Italian composer Ennio Morricone, according to the Associated Press.

Both will receive one million kronor ($130,000) and be presented with trophies at a ceremony in Stockholm later this year. The Polar Music Prize, founded by former ABBA manager Stig Anderson in 1989, is Sweden's most high-profile music award and is split between pop and classical musicians.

Last year's award was shared by former Genesis singer Peter Gabriel and Venezuelan composer Jose Antonio Abreu. Previous recipients include Pink Floyd, Sir Paul McCartney, Sir Elton John, Joni Mitchell, Bruce Springsteen and Led Zeppelin.