Elton John just became an EGOT, and his songwriting partner Bernie Taupin was just inducted into the Rock & Roll Hall of Fame. Now, they're both getting another prestigious award.

On March 20, the duo will receive the Library of Congress' Gershwin Prize for Popular Song in Washington, D.C.,  as part of an all-star concert, which will premiere April 8 on PBS. The Gershwin Prize, established in 2007, recognizes artists "whose career reflects the influence, impact and achievement in promoting song as a vehicle of musical expression and cultural understanding."

Elton and Bernie will be the third duo to receive the award, following Burt Bacharach and Hal David, and Gloria and Emilio Estefan. Past recipients include Stevie Wonder, Paul McCartney, Joni Mitchell, Lionel Richie and Carole King.

“I’ve been writing songs with Bernie for 56 years, and we never thought that that one day this might be bestowed upon us,” Elton said in a statement. “It’s an incredible honor for two British guys to be recognized like this. I’m so honored.”

Bernie added, “To be in a house along with the great American songwriters, to even be in the same avenue, is humbling, and I am absolutely thrilled to accept.”

In a statement, Librarian of Congress Carla Hayden said, "Elton John and Bernie Taupin have written some of the most memorable songs of our lives. Their careers stand out for the quality and broad appeal of their music and their influence on their fellow artists."

Elton John is Billboard's top solo male artist of all time: He's placed 59 songs in the top 40 of the Billboard Hot 100.

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