Kris Kristofferson will be honored in January with the Grammy Lifetime Achievement Award.

The Country Music Hall of Fame member -- whose legendary career has spanned more than 40 years and includes over 30 albums -- joins an all-star class of 2014 inductees that includes the Beatles, Mexican musician Armando Manzanero, Zydeco artist Clifton Chenier, the Isley Brothers, German band Kraftwerk and pioneering violinist Maud Powell.

“It is a great privilege to recognize such an exceptional group of honorees and celebrate their accomplishments and contributions to the recording industry,” Neil Portnow, President/CEO of The Recording Academy, says. “This astoundingly unique and gifted group have created some of the most distinguished and influential work in our musical history. Their legacies are timeless and legendary, and their creativity will continue to influence and inspire future generations.”

The new accolade is welcome good news. Kristofferson revealed last month he is suffering from memory loss. But the 77-year-old isn't letting the difficulty slow him down. He has a handful of shows on his calendar, including a performance for the 16th annual Grammy Foundation Legacy Concert on Jan. 23, where he will join an all-star cast that includes Steve Cropper, Joy Williams of the Civil Wars, Goo Goo Dolls' John Rzeznik, Mike Reid and Allen Shamblin.

Kristofferson and the other Lifetime Achievement Award recipients will be honored at a special invitation-only ceremony on Jan. 25. The 56th Annual Grammy Awards will air live from Los Angeles on Sunday, Jan. 26 on CBS at 8PM ET.