Aug.5 (GMM) Former seven time world champion and occasional Ferrari test driver Michael Schumacher will be back in action for the Italian marque at the group Monza test later this month, reports in Germany on Tuesday said.

Championship leader and McLaren driver Lewis Hamilton is quoted as saying: "I think Michael's presence at Ferrari is a compliment to us."

The 23-year-old said he doesn't mind sharing a test circuit with the legendary German driver.

"I think it's cool to be on the track at the same time as him," Briton Hamilton said. "I just see it as a challenge."

In the specialist Italian media, meanwhile, it is said Kimi Raikkonen was lucky to finish Sunday's Hungarian grand prix in third position, as he was protecting a failing component in the rear suspension.

His Brazilian teammate Felipe Massa led the race near Budapest until his 2.4 litre V8 engine failed.