ET's Katie Krause spoke with the 23-year-old singer at the opening of the Marcell Von Berlin flagship store in Los Angeles on Tuesday, and he said he's been working on music for the last couple of months. Simpson said he's "pretty close" to being happy with the finished product.
"It's kind of been a process of trial and error," he tells ET. "I've kind of, like, been making a bunch of stuff, canning it, then making a bunch of stuff, canning it, but for me, that's the process of an artist. I'm really excited because I finally feel like I have something I'm ready to share. You'll be hearing it very, very soon."
As for what's inspiring his new music, Simpson said it's a multitude of things in his life, including his upcoming poetry book that's being released in April. However, he remained coy when asked if he was in love.
"Wouldn't you like to know?" Simpson joked when asked if he's in love right now. "I don't know how to say it. "It's a big call to make."
Simpson did shut down rumors that he's forming a band with Cyrus called Bandit and Bardot. Rolling Stone reported in December that Cyrus' company, Smiley Miley Inc., applied for the name "Bandit and Bardot" to the United States Patent and Trademark Office. An Instagram account for Bandit and Bardot was also created that only followed Cyrus and Simpson, though now the account follows no one.
"Strictly rumors," Simpson tells ET of reports that he and Cyrus are starting a band.
As for any plans of collaborating with Cyrus, he says, "Not at the moment."
For more on Simpson and Cyrus' relationship, watch the video below: