The 2013 Billboard Music Awards, returning to Las Vegas on Sunday, May 19, will honor Prince with the Billboard Icon Award.

Not only will Prince be honored with the award, he will also deliver a likely unforgettable performance during the broadcast, which is produced by Don Mischer and sponsored by Chevrolet and the Las Vegas Convention and Visitors Authority, reports Billboard.

Last year the 2012 Icon recipient was Stevie Wonder, who received a tribute from Alicia Keys featuring "Higher Ground" and "Overjoyed," and a stripped-down version of "Empire State of Mind", Keys' hit with Jay-Z, according to Contactmusic.com. Wonder also paid tribute to the late Donna Summer and Bee Gees Robin Gibb after news of his passing broke only hours before the awards took place.

The only other artist who has received the Icon Award is Neil Diamond in 2011, making Prince the third recipient of the award.

The 2013 Billboard Music Awards will air live on ABC on May 19 from the MGM Grand Garden Arena and the top artists will be recognized in various genres including R&B, Rap, Pop, Country, Rock, Latin and Alternative.