"Bill and Ted 3" is in the works, with Keanu Reeves and Alex Winter set to reprise their roles as the excellent title characters.

Vulture reported that strange things are afoot at the Circle K, so to speak, with the two leads, along with franchise creators Ed Solomon and Chris Matheson, as well as "Galaxy Quest" director Dean Parisot all set to move forward on the Wyld Stallyns reunion!

The film won't be a reboot or remake, but will follow Mssrs. Theodore "Ted" Logan (Keanu Reeves) and Bill S. Preston, Esq. (Alex Winter) in their modern lives. When audiences last saw Bill and Ted in "Bill & Ted's Bogus Journey," they were just out of high school in 1991, two years after the original "Bill & Ted's Excellent Adventure" was released in 1989.

Sequels coming out many years after the last installment of a movie franchise can work under certain circumstances, such as "Tron: Legacy" or even "Ghostbusters III," assuming the latter ever comes to fruition.

The inherent problem with a modern-day "Bill and Ted" film is that Bill and Ted will be old, and their antics will be less humorous and more pathetic.

The goofy duo spend the entire first move on an "Excellent Adventure" through time, and they never seem to grasp how insane the events happening around them are. When the guys returned for "Bogus Journey" two years later, there was something missing, and now they're working on another installment more than 20 years after that.

"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," Reeves' said in an interview with MTV last year. "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."  

That sounds more upsetting than the other two films, and "Bogus Journey" saw the Bill and Ted literally go to hell.

Even considering the downhill popularity of the franchise, going from an 82 percent fresh rating to a 56 percent fresh rating on the Rotten Tomatoes site, the next film has some signs of hope. Director Dean Parisot taking some control of the project will be helpful, since he has had experience in directing great comedies.

Aside from his endearing spoof of "Star Trek" and its fan base, Parisot has also directed episodes of "Curb Your Enthusiasm," "Monk," and "Modern Family." A resume like that is a perfect fit for the "Bill and Ted" franchise.