This just came in from a very reliable source: Tom Waits' European summer tour will kick off in Brussels, Belgium.
According to the promotors at the Paleis voor Schone Kunsten (Palais des Beaux Arts), Waits will be performing in June or July as a part of their 'It's not only rock 'n roll, baby!', an event which focusses on musicians who are also involved in visual arts. Lou Reed will be taking to the stage in the same series of concerts on July 16.
UPDATE: This news has been categorically denied by mr. Waits' management.
I'm truly sorry for getting your hopes up, but this news was confirmed by the people at the PSK, so it seemed genuine enough to post it.