Well, the day has finally come—the long-running rumors of a Bill and Ted sequel have finally come to fruition as, after a series cryptic updates from Alex Winter and Keanu Reeves over the years, a director has finally been hired to helm the project.  That’s right, it’s happening: Bill and Ted 3.

/Film has it that Dean Parisot, director of Galaxy Quest, has just been hired to direct the project.  This comes on the heels of last year’s news that Ed Solomon and Chris Matheson had completed the script for Bill and Ted 3, but were working without a green light.  Now that Parisot has been hired, though, it seems that this sequel is happening for real.  His previous credits include Home Fries and Fun with Dick and Jane.

Not much is known about the plot of the film, beyond the fact that it will be a direct sequel that finds Bill and Ted slacking well into middle age.

Despite the fact that Parisot has been hired, don’t expect to see Bill and Ted 3 on the big screen anytime soon—Parisot is still in preproduction for Red 2 (with a summer 2013 release date), and the film, despite being the property of MGM, is still searching for other studios to cofinance.