The 'She Said' hitmaker is too busy working on his other commitments - new movie 'The Sweeney', promoting his forthcoming album 'Ill Manors' and the film of the same name which he has written, directed and starred in - to find the time for the venture, which would see him team up with his touring session musicians.
He said: ''I've had to knock the band on the head.
''There are only so many hours in the day and to keep the quality levels up I've had to put a halt to some projects, including the band.
''It's sad but I have to give my all to the things I can do. So I'm working on 'The Sweeney' and making a new album.''
Despite his hectic schedule, the rapper - whose real name is Ben Drew - has no plans to slow down.
He added to the Daily Star newspaper: ''Life is so busy that I'm sleeping in my clothes some days.
''I can't stop and I don't want to. There's so much I want to achieve and I owe it to the people around me to keep going.''