Miley Cyrus readies Walmart-exclusive album

Miley Cyrus will release her new album, "The Time of Our Lives," Aug. 31 exclusively at Walmart stores and via Walmart.com, according to a press release.

The album, which will retail for $8, features seven tracks, including the new single "Party In The USA." The song can be downloaded instantly at Walmart.com with a $7 pre-order of the digital release.

"The Time of Our Lives" also features a live duet with the Jonas Brothers.

Cyrus--who is expected to begin production on the fourth season of "Hannah Montana" in 2010--kicks off a 45-city North American tour in September.

The teeny-pop sensation--who also is filming the Nicolas Sparks drama "The Last Song"--recently launched a new apparel line in association with Max Azria. The line, Miley Cyrus & Max Azria, is available exclusively in Walmart stores and at Walmart.com.

The big-box mega-store also is the sponsor of her upcoming tour.