Sweden's King Awards Pink Floyd with 2008 Polar Prize

The Polar Prize is the country's biggest music prize for their contribution to popular music, along with American soprano Renee Fleming, who also received the award at the Stockholm Concert Hall.

Pink Floyd's band members Roger Waters and Nick Mason were at the Swedish capitol on Tuesday to receive the award, whilst David Gilmour and Richard Wright apologized they could not attend.

At receiving the king's honor, Waters thanked his 96-year old mother: "If there is any humanity and empathy in my work, which I think there is, I would rather owe it to her", he said.

Fredrik Reinfeldt, Swedish Prime Minister, said the British rock band has made "a monumental contribution...and captured the mood and spirit of a whole generation in their reflections and attitudes," reports the Associated Press.

Each winner received a standing ovation and a prize worth $157,700.