Bruce Springsteen's new record, Magic, includes a tribute to the Beach Boys' Pet Sounds entitled "Girls in Their Summer Clothes." The last album I recall as having a Pet Sounds tribute was R.E.M.'s Up (with "At My Most Beautiful"), which was also the album that signaled their terminal slide into irrelevance. Here's hoping the Boss fares better.
The only band I can think of that survived their Pet Sounds tribute was the Beatles, with "Here, There and Everywhere" on Revolver, and look what happened to them: Half of the band is now dead.