"We want to say thank you to you the fans," Reeves said in a message from the Hollywood Bowl, with Winters adding, "We owe you a huge debt of gratitude."

Face the Music has set a release date of Aug. 21, 2020, and it picks up with the best friends, now middle-aged, as they meet a visitor from the future who warns them only their song can save life as we know it and bring harmony to the universe.

It will also feature the duo's kids, as Reeves explained recently to The Hollywood Reporter: “I'm sure they can't help but have a bit of their mothers and fathers in them. So we'll see how that expresses itself.”

Reeves and Winter broke out thanks to 1989's Bill & Ted's Excellent Adventure, which was directed by Stephen Herek and centered on two lovable slacker teens who travel through time with the help of a phone both. It became a surprise hit and a cultural touchstone and was followed by 1991's Bill & Ted's Bogus Journey as well as an animated series.

Face the Music has been a passion project for both stars for years, with the two often talking about their hopes for a third installment in interviews. The project became a reality May 2018 when it was shopped at the Cannes Film Festival.

Original creators Chris Matheson and Ed Solomon penned the script for Face the Music, with Galaxy Quest's Dean Parisot directing. Scott Kroopf will produce with Alex Lebovici and Steve Ponce of Hammerstone Studios, with Steven Soderbergh serving as an executive producer alongside R. Scott Reid, John Ryan Jr., Scott Fischer and John Santilli.

Orion Pictures will release Bill & Ted Face the Music through United Artists Releasing.