Last week news broke that Ben Stiller and actor turned screenwriter Justin Theroux were working on a sequel to the 2001 cult hit Zoolander. The film that shed a shallow light on the world of male models wasn’t a theatrical success but has consistently made a killing in the home entertainment market. Stiller recently spoke to MTV about reprising his role as the vapid Derek Zoolander, and according to him the sequel’s a go!

Stiller is currently out and about promoting his latest film Greenberg, but with Zoolander 2 rumors floating around no reporter is going to let him get away without confirming or denying the film. Lucky for us, the actor revealed that he does have plans to bring back Derek, his enemy turned ally Hansel (Owen Wilson), and even that damn Mugatu (Will Ferrell)!

“Yes, it is true,” Stiller confirmed of the sequel plans. “We are in the process of getting a script written. It’s in the early stages, but it’s gonna happen. We’ve been trying for years to… figure it out. It’ll have input from all the… ‘Zoolander’ people. It’s just… taken awhile.”

If you’re wondering if Zoolander and Hansel are in the same place socially that they were nearly a decade ago, the prognosis is negative. They’re borderline D-list celebrities.

“We have a new story idea that we feel excited about and we’re going to try to go forward,” he said. “The beginning of the movie is [set]… 10 years later, and Derek & Hansel are literally forgotten. Nobody even knows who they are, so they have to re-invent themselves.”

Ferrell’s Mugatu didn’t exactly have a happy ending in the first film but Stiller’s convinced that if the actor’s game he can make his return happen. He said, “If Will says yes, he definitely has to be a part of it. To me, Mugatu is one of the classic screen villains of all time.”

I can’t think of Zoolander without imagining the infamous walk off scene, or Mugatu’s monotone delivery of the line, “It’s that damn Hansel! He’s so hot right now!” And who can forget Milla Jovovich’s obsession with Christine Taylor’s K-Mart collection wardrobe? Sigh, those were the good old days.

What do you think about Stiller returning for Zoolander 2? What do you think of his ideas for the story?