As Pitchfork said earlier today, this doesn't seem to be a joke. The band is called Tinted Windows and features the Smashing Pumpkins' James Iha, Cheap Trick drummer Bun E. Carlos, Taylor from Hanson, and Adam Schlesinger, Fountains of Wayne's bassist and lyrical mastermind.
Cool, right? I think so. The band apparently plans to make their debut at Billboard's SXSW showcase in Austin on March 20th.