For what feels like decades now, rumors have persisted that Paul Reubens would haul out his red bow-tie and too-tight gray suit for a cinematic vehicle, despite the 27 years that have transpired since the release of his last movie, Big Top Pee-wee, and the 24 years that have transpired since an unfortunate incident in a pornography theater (go ask your parents what those were) threatened to end his Pee-wee sideline permanently.

This phantom Pee-wee comeback movie was threatening to become the most-talked-about, never-to-happen pop-culture return this side of a new Ghostbusters movie and Chinese Democracy. Well, guess what, folks? A new Ghostbusters movie is in the works, Chinese Democracy was released to universal acclaim and is now the top-selling album of all time, probably, and now it’s looking like that Pee-wee movie that was never going to happen is actually going to happen.

Late last year, we reported that Reubens had announced that a Judd-Apatow-produced Pee-wee comeback movie was once again imminent and teased a “major announcement” the next week. Considering how long the film has been in development hell, it’s appropriate that that major announcement regarding the director was released later than anticipated. Variety is reporting that that long-fabled Pee-wee movie is finally coming to fruition as Pee-wee’s Big Holiday, a movie about, that’s right, a holiday that Pee-wee takes. (Will it be Martin Luther King Day or Boxing Day?) The film is the latest in a series of high-profile releases from Netflix that includes four-feature pacts with both Adam Sandler and the Duplass brothers.

The film will be produced by Apatow and Reubens from a screenplay by Reubens and Paul Rust—a talented comedian, actor, and writer who was also the frontman for the band Don’t Stop Or We’ll Die with the late Harris Wittels—and will be directed by John Lee. Rust has worked with Reubens before the on the Pee-wee comeback stage show, but Lee is the real wild card here.

With partner Vernon Chatman, Lee created Wonder Showzen, a show that hijacked the look and feel of a kids’ show from the 1980s for dark, demented, and sometimes viscerally unsettling purposes. It’s no exaggeration to call Wonder Showzen one of the bleakest, most despairing, and adventurous shows ever aired, and Lee and Chatman’s subsequent work, like Xavier: Renegade Angel and The Heart, She Holler, have been similarly twisted. Most recently, Lee has directed several episodes of sharp Comedy Central shows Inside Amy Schumer and Broad City. So Lee is far from a safe choice—in fact, danger seems to be at the core of much of his comedy—but hopefully he will be an inspired one as well. After all, hiring a 25-year-old animator named Tim Burton to direct Pee-wee’s Big Adventure was a hugely risky choice that ended up resulting in one of the most beloved comedies of all time.