AceShowbiz -

Katy Perry will reportedly release her fourth studio album this fall. The "Roar" hitmaker's forthcoming album will feature music inspired by her relationship with her boyfriend Orlando Bloom.

"Katy loves performing, so a large part of 2017 is already put aside for a huge world tour," a source tells Britain's Heat Magazine, "She's ready to be back and be the biggest thing in pop. Her new album will be out in October or November, and the industry is really excited about it."

"Katy's on a major high," the source adds, "For the first time in a long time, she's really happy in a relationship and it's helping her see everything clearer."

According to the source, Katy's latest Olympic anthem "Rise" will not be featured on her upcoming album. She previously said in a promo video for "Rise" that she "was inspired to finish it now, rather than save it for [her] next album, because now more than ever, there is a need for our world to unite."

Katy's new album will have a potential collaboration with Rae Sremmurd's Swae Lee. In an interview with Complex, Swae reveals the "Fireworks" singer recorded a song he wrote for her. "I wrote this track and [Katy] laid it and it's pretty dope," he shares, "She got a lot of style. She about to come with it!"

It was previously rumored that Katy's new record was about her never-ending feud with nemesis Taylor Swift.