Welcome news, if true.
Official Statement (or non-statement) from Sting.com:
"As the 30th anniversary of the first Police single approaches, discussions have been underway as to how this will be commemorated. While we can confirm that there will indeed be something special done to mark the occasion, the depth of the band's involvement still remains undetermined."
I have a feeling Mr. Sting won't do it...the others are game.