A hip-hop organization chaired by Def Jam co-founder Russell Simmons says it will launch a boycott of Pepsi next week if the soft-drink company doesn't resume airing an advertisement featuring rapper Ludacris that it pulled last year.

The Hip-Hop Summit Action Network announced the launch of its "Campaign for Respect," which it calls "a national mobilization effort to challenge the 'cultural disrespect' of Ludacris and hip-hop culture by Pepsi," at a Wednesday (2/5) press conference.

Pepsi pulled a 30-second spot starring Ludacris last year after Fox News Channel commentator Bill O'Reilly bashed the company for signing the rapper as a pitchman. O'Reilly said Ludacris "espouses violence, degrading sex and substance abuse."

The company, which said it was receiving complaints about Ludacris' lyrics, pulled the advertisement the next day. The ad itself--which showed Ludacris rapping at a party--didn't contain any questionable lyrics.

At the time Pepsi pulled the ad, Simmons didn't object. But, he said at Wednesday's press conference, when he saw an ad for Pepsi Twist featuring the foul-mouthed Osbourne family during the Super Bowl, he became upset by the apparent double standard.

Besides reinstating the Ludacris spot, Hip-Hop Summit is demanding that Pepsi issue an apology and donate $5 million to the Ludacris Foundation charity.

"During the past six months and, in particular during the last 24 hours, there have been attempts to negotiate a just settlement of this dispute," Hip-Hop Summit said in a statement. "Unfortunately, Pepsi has failed, thus far, to resolve this issue in a manner acceptable to the hip-hop community."

In a prepared statement, a Pepsi spokesman wouldn't specifically address the boycott threat. "The Ludacris situation was unfortunate for all concerned," he said. "We learned from it, and we moved on. We completely understand and respect Russell Simmons' passion for promoting hip-hop music, and we are working with him and others to do just that."

Ludacris is currently on tour to back his 2001 album, "Word of Mouf."