We've been hearing for months - even straight from George Lucas himself - that. This evening word has come that work has indeed begun on converting the entire Star Wars franchise into the new format.

has revealed that Lucasfilm and 20th Century Fox are planning a relaunch of the six Star Wars films beginning in early 2012. One film would be released in that same timeframe per year, starting with The Phantom Menace . The report mentions that each adaptation would take about a year, and that the release schedule could be affected by the financial performance of each movie. (Something tells us that's not going to be a problem.)The availability of 3D tech has been one of the reasons Lucas has been holding out. The Reporter mentions the availability of properly equipped theaters as well as televisions have affected the timetable, as Lucas wants to make sure as many people see the re-releases as possible.For the latest on Star Wars in 3D, stay tuned to IGN Movies.