That's right, Ray was a drummer from Sigue Sigue Sputnik in the 80s and this is the band project that he has had kicking around for some years.
In that vein, there was a story going around that Tony James had tried to poach Mr Eldritch from the Sisters to join Sigue Sigue Sputnik as far back as 82/83 during a session at Maida Vale Studios. There may be "some" truth in this one because Tony James lived in Sid Vicious's old house around the corner from the Maida Vale studios on Pindock Mews at that time. We know for sure that Tony James had his eye on many different singers to front Sputnik before settling on Martin Degville. Quite ironic that Mr James would end up becoming a Sisters bassist some years later.
Slightly gone off topic there, but I think the links between bands can be quite interesting.
Originally asked to be the lead singer of SSS, Andrew Eldritch returned the favor to Tony James by inviting him to play bass with the Sisters of Mercy on their Vision Thing album/tour.
I think it was mentioned around the time of the VT release. Might have been the Empire interview (primarily with Von but the rest of the band were around too and my memory is that TJ was the one who said it) but don't quote me on that. Definitely a story that's been around for a long time and I'm pretty sure it came from the band rather than just being a rumour.
After I'd read that interview my friend read it too and concluded from it that Von was "what a bastard".
Any more of that and we'll be round your front door with the quick-setting whitewash and the shaved monkey.