As far as I know;

http://en.wikipedia.org/wiki/B.B._King

"On December 1, 2008, King performed at the Maryland Theater in Hagerstown, Maryland.10 On December 3, King and John Mayer were the closing act at the 51st Grammy Nomination Concert, playing "Let the Good Times Roll" by Louis Jordan. On December 30, 2008, King played at The Kennedy Center Honors Awards Show; his performance was in honor of actor Morgan Freeman."
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B.B. King (born Riley B. King, September 16, 1925) is still alive.
http://4.bp.blogspot.com/_oO3xVAE4RA8/RhnG3Ja8YdI/AAAAAAAAABs/9Xx-1jXIoE0/s400/BBKing.jpg
In 2008, he played the following venues:

June - Bonnaroo Music and Arts Festival in Manchester, Tennessee
June - Final performer at the 25th annual Chicago Blues Festival
June - Monterey Blues Festival
June - King's induction into the Hollywood Bowl Hall of Fame alongside Liza Minnelli and Sir James Galway.
December - Maryland Theater in Hagerstown, Maryland
December - King and John Mayer were the closing act at the 51st Grammy Nomination Concert
December - King played at The Kennedy Center Honors Awards Show; his performance was in honor of actor Morgan Freeman.

Working at a R&B radio station in Mississippi (WDIA) as a singer and disc jockey, King gained the nickname "Beale Street Blues Boy", later shortened to "B.B."
Source(s):
http://en.wikipedia.org/wiki/B.B._King

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Not only is he still alive, he has 41 concerts and/or appearances scheduled between now and Oct. this year. He will also be presenting an award named after him on May 7 at the annual Blues Music Awards in Memphis.
Source(s):
http://www.bbking.com/

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