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The Bowery Presents says:

Ladies and Gentlemen We are Floating In Space - performed live in its entirety with orchestra and choir. Although Spiritualized fully emerged after the acrimonious breakup of Spacemen 3, in truth the band's roots extended back to the band's final LP, 1990's Recurring. A Spacemen 3 album in name only, Recurring was split evenly between independently recorded work from Jason Pierce and estranged partner Pete "Sonic Boom" Kember; as a result, while Kember's side presaged his eventual work with Spectrum, Pierce's half, recorded with most of the musicians who would later comprise Spiritualized (including guitarist Mark Refoy, bassist Willie B. Carruthers, and drummer Jon Mattock), predated the orchestral drones that became the band's hallmark. The first true Spiritualized single, a dramatic reading of the Troggs' "Anyway That You Want Me," was the final nail in the coffin -- reportedly, Kember was so incensed by the Spacemen 3 logo which appeared on the disc's jacket that he disbanded the group for good.