Fans of the Bill & Ted most excellent franchise were delighted to hear that, not only was a third film actively in development , but that Galaxy Quest director Dean Parisot had been tapped to direct last August.

"We have a nice story. We'll see if anyone else wants to make it," Reeves told GQ in an interview at the time. "One of the plot points is that these two people have been crushed by the responsibility of having to write the greatest song ever written and to change the world. And they haven't done it. So everybody is kind of like: 'Where is the song?' The guys have just drifted off into esoterica and lost their rock. And we go on this expedition, go into the future to find out if we wrote the song, and one future 'us; refuses to tell us, and another future 'us' blames us for their lives because we didn't write the song, so they're living this terrible life. In one version we're in jail; in another we're at some kind of highway motel and they hate us."It's been virtual radio silence on the project in the ensuing year, though Bill S. Preston, Esq. himself, Alex Winter, did say that the film was in the "natural process of development" on the Nerdist podcast this March.Reeves was on hand at today's TCA (Television Critics Association) press tour to promote his new documentary Side by Side, set to premiere on PBS later in the month (stay tuned for more on that).While there, he did address the current state of the planned Bill & Ted sequel. "There have been a couple of drafts [of a Bill & Ted 3 script] and right now we're waiting on the writers to come up with another draft," Reeves said. "But we're all very excited."The actor also told press that it was important to the team that they find a way to honor iconic comedian George Carlin's character in the film. Carlin, who passed away in 2008, played Rufus, the world-saving musicians' time-traveling History tutor in Bill & Ted's Excellent Adventure and returned for the follow-up Bill & Ted's Bogus Journey.We will keep you updated as details on Bill & Ted 3 emerge.

Roth Cornet is an Entertainment Editor for IGN. You can follow her on Twitter at @RothCornet and IGN at Roth-IGN