Excellent News! 'Bill & Ted' Part 3 in the works

HOLLYWOOD, California -- "Bill & Ted's Excellent Adventure" Part 3? The film franchise's stars, Keanu Reeves and Alex Winter, are reportedly saying "yes" to this most excellent idea. It's been nearly 30 years since the time-traveling teens first hit the big screen.

The Hollywood Reporter says a third Bill & Ted installment is firmly in the works. "Bill & Ted's Excellent Adventure" hit theaters in 1989 and became a huge box office phenomenon. The new movie will be called "Bill & Ted Face the Music" and will focus on the iconic duo and their new roles as middle-aged dads.

"We couldn't be more excited to get the whole band back together again," said Reeves and Winter in a statement to THR. "Chris and Ed wrote an amazing script, and with Dean at the helm we've got a dream team!"