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A new trailer for Men in Black 3 was released on Monday. Will Smith and Tommy Lee Jones reprise their roles as alien hunters Agent J and Agent K, respectively. (PHOTO: Screen Capture / Sony Pictures).

Nearly two months after the teaser, Sony Pictures has released a new trailer for Men in Black 3, the much-anticipated third installment of the Men in Black film franchise starring Will Smith and Tommy Lee Jones as Agent J and Agent K.

The new trailer, which runs for some two minutes, sheds some light into the new story, which finds Agent J traveling back in time in search for clues about Agent K's backstory. Fans also get a first look at Bill Hader (of SNL fame) in his Andy Warhol best. (In the fictional MiB world, Warhol also worked as a special agent in the '60s).

Just like the teaser, the new trailer has plenty of jokes about old age.

I am getting told old for this . . . I can only imagine how you feel, Agent J (Smith) says to Agent K (Jones) in the new trailer.

In a clip Smith shares with Josh Brolin, who plays a younger Agent K in the '60s, age comes up again.

Hey how old are you? asks J.

29, responds K.

You have some city miles on you, J fires back.

Men in Black 3, directed by Barry Sonnenfeld (who directed the first two MiB films), also stars Emma Thompson, Rip Torn, Alice Eve, Jermaine Clement (Flight of the Conchords) and Nicole Scherzinger.

Lady Gaga made Men in Black 3 headlines last week when a Brazilian Web site reported that the 25-year-old superstar had joined the cast in a small role.

We have a couple of celebrity cameos, but I think I cannot reveal who they are . . . we must keep as a surprise that Lady Gaga appears, Smith, apparently told ElCorilloRD.com (as reported by the Daily Mail).

Last summer, Smith and Men in Black got some bad press when the actor brought his 1,150 square foot trailer to the New York City set. Smith angered several shopkeepers and residents in the SoHo neighborhood of New York with The Heat, a gigantic trailer that had a movie room, full-service kitchen, bar and office space. (New York City Mayor Michael Bloomberg later ordered the trailer to be removed).

The original Men in Black arrived in movie theaters in 1997, grossing more than $589 million at the box office. The film's theme song, Men in Black, performed by Smith, won a Grammy Award for Best Rap Solo Performance the following year.

Men in Black 2 fared just as strong in 2002, grossing more than $441 million at the box office.

Men in Black 3 opens on Memorial Day, May 25.