Beyonce is reteaming with Pepsi for a multi-faceted branding deal that will coincide with her performance during the Super Bowl 2013 Halftime Show, of which Pepsi is a presenting sponsor. The news of the Pepsi pact was first reported by The New York Times.

Slideshow: Beyonce

Peter Kramer / AP

Launch slideshow

Beyonce, who has been featured in ads for Pepsi since 2002, will appear in a new commercial to debut some time during first-quarter 2013 and appear on limited-edition cans bearing her likeness starting in March. Pepsi, in turn, will sponsor a variety of unspecified creative projects for Beyonce as well as help promote the singer's upcoming fifth studio album.

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The multi-year partnership is valued at around $50 million in ad spend and promotional materials over several years. New music could arrive as early as Super Bowl Sunday, Feb. 3, as producer The-Dream told Billboard last week that Beyonce will "definitely" have a single ready as part of her performance.

As Billboard detailed in an April 30 cover story, Pepsi and its lifelong competitor Coca-Cola are the two most powerful brands in music based on their sponsorship efforts around musicians, tours and TV programs like "The X Factor" and "American Idol." Pepsi and Coke spent $330 million and $240 million, respectively, on programs involving entertainment and sports, which Pepsi has been fusing more in recent months with campaigns starring One Direction and The New Orleans Saints' Drew Brees as well as an NFL Anthems campaign featuring Kelly Clarkson, Lenny Kravitz, Kid Rock, Aerosmith and Ice Cube.

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