Interesting, as it is on their Survival album, a studio LP. I can't tell if that version is live or not, it fades at the end, so it's possibly a live version w/ the audience faded out before you hear them.
Yeah, they do a reasonably famous cover of it. At least one of the more well known covers, especially considering it had to have been one of the first. I like a lot of Grand Funk Railroad but I never found their cover of it all that good.