John Travolta and Olivia Newton-John reunite for Christmas album

The album artwork for John Travolta and Olivia Newton John's "This Christmas."
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(CBS News) "Grease" is the word this holiday season, because John Travolta and Olivia Newton-John have teamed up for a Christmas album.

The album, titled "This Christmas," also features Barbra Streisand, Tony Bennett and Kenny G, according to a release posted on Newton-John's Facebook page.

According to the announcement, Travolta got the idea to record the album "after receiving a Christmastime text from his old friend Olivia noting that their 1978 smash, 'You're the One That I Want,' had just become the best-selling duet in pop music history."

The album marks the first time the "Grease" co-stars have recorded music together in nearly 35 years. The track list features classic holiday tunes and one original song, "I Think You Might Like It." That new tune was written by John Farrar, who penned the "Grease" hits "You're the One That I Want" and "Hopelessly Devoted to You."

Travolta and Newton-John will donate the artist proceeds from the album to their respective charities - the Jett Travolta Foundation, which works to combat children's disabilities, and the Olivia Newton-John Cancer and Wellness Center in Melbourne, Australia.

"We all felt a wonderful, joyful energy while recording this album," Newton-John said in a statement. "We want to make a lot of people smile and happy. It's a project that we're hoping turns into a perennial, one that can continue to raise money for these causes year after year, a gift that keeps on giving."

"This Christmas" is due out Nov. 13. Check out the track list below:

1. Baby It's Cold Outside
2. Rockin' Around the Christmas Tree (featuring Kenny G)
3. I'll Be Home for Christmas (featuring Barbra Streisand)
4. This Christmas (featuring Chick Corea)
5. Silent Night
6. The Christmas Waltz
7. Have Yourself a Merry Little Christmas (featuring Cliff Richard)
8. Winter Wonderland (featuring Tony Bennett and The Count Basie Orchestra)
9. White Christmas
10. I Think You Might Like It
11. The Christmas Song
12. Deck the Halls (featuring James Taylor)
13. Auld Lang Syne/Christmas Time Is Here (Medley)