Neil Diamond

Neil Diamond, Tom Waits and the Alice Cooper Band are among the new inductees into the Rock and Roll Hall of Fame, the organization announced Wednesday.

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"I think it's great. I'm happy that that they recognized me and my work," Diamond wrote on his website. "Any club that has Chuck Berry and Little Richard and The Everly Brothers is a club that I want to be a part of."

Also being inducted are Dr. John and Darlene Love. Leon Russell will receive The Award for Musical Excellence, and industry executives Jac Holzman and Art Rupe will both receive the Ahmet Ertegun Award.

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"We are pleased to welcome these artists and executives into the Rock and Roll Hall of Fame," Joel Peresman, the president and CEO of the Rock and Roll Hall of Fame Foundation, said in a statement. "They truly represent the variety of people that have defined and continue to influence music and the business of Rock and Roll."

Artists are eligible for induction 25 years after the release of their first single or album.

The new class will be inducted at a ceremony in New York on March 14.