Warner Bros./The Geffen Film Company

Update (3/11, 2 p.m.): Tim Burton's spokesperson tells MTV Beetlejuice 2 is not in active development and that the previous report was false. Burton is currently working on Disney's live-action Dumbo adaptation

But let's be honest: Beetlejuice 2 will probably still happen.

Original story (3/11, 9:30 a.m.): Alongside Ghostbusters, Beetlejuice is one of the most frequently sequel-rumored '80s movies there is. And this week, 28 years after the original, director Tim Burton confirmed it's really happening and that stars Michael Keaton (now age 64) and Winona Ryder (now 44) are back on board.

Showbiz Spy (via Consequence of Sound) says Burton told an inside source:

“The film is a go and has been approved by the Warner Bros. team, we have talked with the cast members we wanted for the film and they are all on board, this includes both Winona and Michael. We have the script in hand everything is in place all we need to do now is get ready to start filming.”

No word yet about Alec Baldwin, Geena Davis or Catherine O’Hara returning yet.

In February 2014, Keaton told MTV of his iconic character, "I always said that’s the one thing I’d like to do again, if I ever did anything again." In August 2015, Ryder said she was pretty sure it was going down.

And, unsure if this still holds any weight, but in 2011 it was reported that a script was being written by Seth Grahame-Smith, who's done Pride & Prejudice & Zombies, Abraham Lincoln: Vampire Hunter and The Lego Batman Movie, coming in 2017.