  We present a new form of the Machin-like formula for $\pi$ that can be
generated by using iteration. This form of the Machin-like formula may be
promising for computation of the constant $\pi$ due to rapidly increasing
integers at each step of the iteration. The computational test we performed
shows that, with an integer $k \ge 17$, the Lehmer measure remains small and
practically does not increase after $18$ steps of iteration.
