UPDATE: 5/3/12 8:59am - Sprinkles revealed its recipe for a new way to consume a cupcake: drinking it via the cupSHAKE.

The newest concoction consists of the following, pulsed together in a blender (photos below):

INGREDIENTS:

1 Sprinkles Red Velvet cupcake

3 scoops of your favorite flavor of ice cream

1/2 cup whole milk

It is likely that this will be yet another menu item at Sprinkles Ice Cream.

 

UPDATE: 4/26/12 9:58 a.m. - Sprinkles unveiled two versions of its new red velvet ice cream this morning on its Facebook page. There are two options: one with red velvet cupcake swirled throughout the ice cream, and one with the cupcake crumbs sprinkled atop Sprinkles' original flavor.

Fans are asked to "vote" for their preference, and the cone also seems to be red velvet flavored, but is yet to be confirmed.

As of now, the version with cupcakes incorporated into the ice cream seems to be winning.

 

4/19/12:

Sprinkles is not just specializing in cupcakes and pupcakes anymore. The pioneer of the cupcake craze has branched out to another sweet treat: ice cream!

The opening date for the first Sprinkles ice cream shop is set for May 24th. Sprinkles Ice Cream will be located in Beverly Hills right by the flagship store, according to Eater.

The expansion storefront will also offer additional baked goods, such as brownies and cookies. In addition to waffle cones made in-house, Sprinkles plans on incorporating its classic cupcakes with the new ice cream.

The debut ice cream storefront will take over the space where La Salsa once stood, the place I personally remember peering into while waiting in the long Sprinkles line.

As many others would agree, the savory restaurant was ironically the benchmark signaling that we were not too far off from the moist cupcakes and sugary frosting next door.

After more than 6 years in business, Sprinkles recently delivered to the world the first-ever cupcake ATM machine. Now, it's preparing to bring us chilled summer treats in flavors such as red velvet, as rumor has it. What could possibly be next?

Soon after the opening of the ice cream parlor, we will finally have the answer to whether Sprinkles is a master of sugar in multiple forms, or if it should just stick with its tried, true and delicious cupcakes that made the brand what it is today.

You can reach reporter Tanaya Ghosh here or follow her on Twitter here.