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The 1990s children's TV favourite which brought Ant and Dec huge success from their partnership with Cat Deeley is returning to ITV two decades after it first started airing.

SMTV Live, which first launched in August 1998, will be back on our screens as soon as next year – and with its original presenting trio at the helm, Ant and Dec have confirmed.

"ITV have just agreed to it. They are on board now. We've had the first discussion now and it's going to be August or September next year," said Ant McPartlin at last night's BAFTA Awards.

Co-host Declan Donnelly added: "They are on-board now, and we have had our first discussions about it, and it looks like it is going to go ahead.

(Image: ITV)

"We can't say too much but we're getting the team back together. It'll be on Saturday morning again at 9.25."

The show, which mixed competitions with cartoons, comedy sketches and music with celebrity guests, also parodied several other TV shows from the time.

Its spoof Chums played off the dramas of Friends across the pond, while Fartbeat, F'art Attack and Casually all aped their better known counterparts.

(Image: Rex Features) (Image: Rex Features)

SMTV Live also gave rise to segments like Wonky Donkey, Challenge Ant and Eat My Goal, which made it one of the most successful children's TV programmes of its time, regularly pulling in audiences of 2.5million.

The show ended in December 2003 after Ant and Dec left for their joint presenting job at Pop Idol in 2001. Cat left the following year and they were replaced by Hollyoaks star James Redmond followed by H and Claire Richards from Steps, Brian Dowling from Big Brother and Tess Daly.

The idea of an SMTV reunion was recently floated on Ant and Dec's Saturday Night Takeaway series finale, when their old pal Cat made an appearance.

(Image: Rex Features)

Ant said to her live on camera: "Now Cat, that will be 20 years next year, I reckon – we were talking – we should do a 20-year reunion next year."

Cat pretended to think about it before agreeing, sending the audience wild.

Earlier this year, she told one interviewer that she'd love to be involved in a reunion show.

"I think it would be a great idea. It's been 20 years. I think it's about time, isn't it, for all those with a misspent youth?" she told PA.

"It was normally the Friday night that was the misspent youth and they woke up on the Saturday morning, slightly hungover."