Back at the 2010 Toronto Film Festival, Keanu Reeves spilled the beans on a potential third film featuring Bill S. Preston, Esquire, and Ted “Theodore” Logan. Then, in April 2011, Reeves said that the script was about 6 weeks away. Now, both Reeves and co-star Alex Winter confirm that a script is finally ready.

Collider is reporting that while doing press for his new documentary, Reeves was asked how the Bill & Ted project was coming along. He said, “Yeah, we have a script.  We’re trying to put it together. It’s a good script too.” Winter took to Twitter to share the news by tweeting, ““Script done? Check. -We love it? Check. -Green light? Working on it!”

The only thing we know so far is what Reeves said back in April. Regarding the plot, he told MTV this:

When we last got together, part of it was that Bill and Ted were supposed to have written the song that saved the world, and it hasn’t happened.  So they’ve now become kind of possessed by trying to do that. Then there’s an element of time and they have to go back.

In the time since then, the story could have changed a whole lot. I’m intrigued by the idea that they were supposed to have written the song that saved the world and haven’t yet, but this seems like a pretty sad story. However, if it captures the Bill & Ted vibe that we all know and love, which I’m almost certain it will if the two stars are on board and excited, I highly doubt that it will be a super sad and pathetic version of Wyld Stallyns we’ll be seeing.

But what of their guide through time and bearer of the phone booth, Rufus? Unfortunately, George Carlin passed away in June 2008, so I wonder who will take his place as a mentor for the not-so-dynamic duo, since they’ll definitely need one. If I had any say in this, I’d want to see Louie CK or Lewis Black step into a Rufus-like character to guide the boys back to greatness.

No matter what they have planned, I’m excited. ‘Bill & Ted’s Excellent Adventure’ is Keanu’s best role in my eyes (Neo who?), so I’m glad to hear that he’s willing to revisit it. Let’s just hope that they’re steering away from looking to the cartoon series ‘Bill & Ted’s Excellent Adventures’ for inspiration.