Hope you are in the mood for some resplendent news, dudes and babes. For the first time in nearly 30 years, Bill S. Preston, Esq. and Ted Logan are heading back to the big screen. As Deadline reported on Tuesday, May 8, a third Bill & Ted movie is officially happening, and yes, Keanu Reeves and Alex Winter are set to return to the iconic franchise. As Reeves and Winter said in a statement to Deadline, “We couldn’t be more excited to get the whole band back together again. Chris and Ed wrote an amazing script, and with Dean at the helm, we’ve got a dream team.”

And it really is a dream team. Bill & Ted creators Chris Matheson and Ed Solomon wrote the forthcoming movie, Bill & Ted Face the Music. Galaxy Quest’s Dean Parisot has been brought on to direct. The third piece of the triptych already sounds like it'll be the opposite of bogus.

All of this is awesome and exciting, of course, but it did not come as a total surprise. As Bill & Ted heads surely know, there have been rumblings about a possible third flick for quite a while now. Solomon told Digital Spy in January of this year,

"We have been working for almost 10 years to get this thing made; Alex Winter, Keanu Reeves, Chris Matheson, me... we have a director – Dean Parisot, who did Galaxy Quest– Steven Soderbergh is one of our producers. We have a wonderful assembly of people."

He added,

"We have a script that we really are proud of, that we worked very hard on, that we've done many iterations of – and we did it on spec, meaning we spent years working on it because we wanted to get it right, creatively."

When Entertainment Weekly asked Reeves, Winter, Matheson, and Solomon about the the possible revival of the Bill & Ted franchise back in March, Solomon said they "are hoping to close a deal with some financiers." He continued, "Hopefully within the next month or so, we’ll have news that will stick.”

Well, well, well. It looks like we now have some news that will stick. As The Hollywood Reporter shared, the long-awaited followup to 1989’s Bill & Ted’s Excellent Adventure and 1991’s Bill & Ted’s Bogus Journey is officially in the works. MGM scooped it up and will release it in the U.S. and Canada, and Bloom is currently shopping it at Cannes for the international market. According to THR, the third chapter in the Bill & Ted franchise is currently in preproduction.

In Bill & Ted Face the Music, time travelers Bill and Ted are all grown up, married, fathers, and still thinking about saving the universe with rock and roll. It’s been about three decades since Rufus (George Carlin) told them that their "music will help put an end to war and poverty" and "align the planets and bring them into universal harmony." Alas, three decades have passed, and Bill and Ted have yet to create a song that saved the world. As Matheson told EW earlier this year,

“You’re told you’re gonna save the world. And now you’re 50 and you haven’t done it. Now they’re married, and it affects their marriages, and it affects their relationships with their kids, and it affects their everything.”

According to THR, Bill and Ted's daughters will join them on their newest quest.

It sounds like Bill and Ted's return is going to be one for the ages, and you better believe the fans who've been waiting for this moment are feeling quite, well, excellent.