Jem and the Hologram fans, get excited!

Jon M. Chu, the director of G.I. Joe: Retaliation and Justin Bieber's Believe documentary, is making a big screen version of the hit 1980s cartoon!

Chu announced the new project in a YouTube video earlier today, telling fans, "The movie, without giving away too much, is a modern day, live action reinvention of the 1980s Hasbro classic cartoon Jem and the Holograms."

The film will be produced by Jason Blum and Bieber's mentor Scooter Braun.