Billboard have announced today that music legend Prince will be honoured at their music awards this year, receiving the Billboard Icon Award and performing at the ceremony.

Prince promised his fans that this year would be big, and now Billboard are doing their part by making 2013 the year they award Prince the coveted Billboard Icon Award at the May 19 ceremony.

Last year’s recipient of the award was Stevie Wonder, who received a multi-tiered tribute led by Alicia Keys. There’s no word yet on who will be involved in the tribute to Prince.

What we do know is that the man himself is set to perform at the event, which will be broadcast live from the MGM Grand Garden Arena in Las Vegas.

Given the rave reviews that he has received this week for events billed simply as auditions, sound checks and rehearsals at the Dakota Jazz Club in Minneapolis, the Billboard performance is expected to be something special.

Prince plays his last night (for now) at the Dakota tonight, with two shows back to back that were simply labelled “surprise”. With tickets up to $250 being in such high demand that the server crashed the moment they were released (only hours after the concerts were announced), his home town is clearly excited to see what Prince calls a surprise.

With old friends and band members spotted in the audience during last night’s shows, and with the identity of the mysterious “3rd Eye Girl” still yet to be revealed, the rumours about these last shows are running hot amongst fans.

Prince has delivered some amazing performances at various awards ceremonies over the years.

Back in 2004, the Purple Rain star was inducted into the Rock and Roll Hall of Fame. He later performed with Tom Petty, Jeff Lynne, Steve Winwood and Dhani Harrison at a tribute to George Harrison, who received a posthumous induction by the museum. The video of their performance of ‘While My Guitar Gently Weeps’, particularly Prince’s blistering guitar solo near the end, is a stand-out favourite for many fans.