'Bill & Ted 3' cast news 2016: 'Bill & Ted' star Keanu Reeves talks development of threequel

Keanu Reeves confirmed that a third "Bill & Ted" movie is in the works, and that they would most likely start shooting by the end of the year or early next year.

In an interview with Entertainment Tonight, Reeves shared some details about the upcoming installment in the hit "Ted & Bill" film series.

"It's funny!" the actor exclaimed. When asked about the plot, Reeves said that it's basically about Bill and Ted trying to save the world, and their efforts not quite working out.

The 51-year-old actor described the movie with such words as "bodacious" and "excellent." And though he changed his mind right after, he said it was also "heartwarming."

As Yahoo! TV noted, talks of a third installment for the beloved "Bill & Ted" franchise have been circulating for years. It was only recently that Alex Winter, who has played Bill since the first movie, confirmed that a script was already done by the original writers, Chris Matheson and Ed Solomon.

Reeves also answered a question that fans have been longing to ask for a while: Does Keanu Reeves still hang out with his co-star Winter?

"Yeah we do," the actor replied. "Definitely, he's one of my best friends." He then went on to say that his 20-year friendship with Winter can be attributed to the latter's intelligence, humor, and heart.

Before Reeves gained worldwide fame with his action movies such as "Speed" and "The Matrix," he played Ted in the cult classic "Bill and Ted's Excellent Adventure" opposite Winter's Bill. The movie followed the adventures of idiot teenagers Bill and Ted as they traveled through time and met with history's most prominent figures, such as Socrates, Napoleon, and Billy the Kid. The movie came out in 1989, and its sequel, "Bill and Ted's Bogus Journey," was released in 1991.

It's been 26 years since the last movie was released, but fans of Bill and Ted are still looking forward to the return of the "bodacious" duo.