The blistering anthem, which features guitars from Steve Jones, originally appeared on the 1988 album ‘Instinct.’
The Roots' Black Thought, R.E.M.'s Michael Stipe and David Byrne will also be contributing to the project.
The film will go live through the Eagle Rock YouTube channel from 19:30 BST on Wednesday, 13 May.
Lana Del Rey, Beck, Massive Attack and Iggy Pop were all due to play the celebrated Spanish festival this year.
Being ahead of their time, too offbeat for mass consumption, or through plain old bad luck – some artists became wildly influential without becoming household names.
Iggy Pop is a rock singer-songwriter from Michigan whose long-running solo career includes albums like The Idiot and Lust for Life.
Pop's 1985 version featured funk pioneer Bootsy Collins, but was never officially released as a single.
From proto-new wave to riotous alt.rock, the best Iggy Pop songs prove that the man born James Osterberg was no stooge.
The eventful life and times of the quintessential rock frontman born James Osterberg.
The box set features remastered versions of 'The Idiot', 'Lust For Life', live album 'TV Eye', plus stacks of rarities and outtakes.
“It will be completely indulgent, fanatic of course, and hopefully, as Iggy Pop, the Undisputed Heavyweight Champion Of Rock And Roll says, ‘A real cool time’.”
With the launch of Disney+ around the world, it’s easier than ever to dig into the Magic Kingdom’s vast archives, from cult classics to forgotten favourites.
The film tells the story of the collaboration between the two American rock mavericks resulting in the acclaimed 'Post Pop Depression' album.
Lana Del Rey, Beck and Iggy Pop are among the festival’s headliners this year.
Iggy Pop’s debut album, ‘The Idiot’, resurrected the former Stooge’s career, and influenced generations of musicians that followed.
The event will be filmed at the YouTube Space in New York and streams exclusively on the Iggy Pop YouTube channel starting at 3pm EST tomorrow.