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Are you sitting down? Because this news may knock you off your feet! MGM announced on Monday that they plan to turn the world's best dressed and most befuddled cartoon dork, Where's Waldo, into a movie star.

Lost, but not forgotten, the wandering walkabouts of Waldo will find their way to a theater near you in a live-action family adventure.

MGM recently secured the movie rights for Where's Waldo? - rights that were once picked up by Nickelodeon Movies in 2004 and Universal and Illumination Entertainment back in 2009.

One can only hope MGM has more luck.

Where's Waldo? was a popular book series by Martin Handford, first published in 1987. The books featured complex, full-page illustrations full of busy people. Like a game of I spy, readers searched for a man with a red and white striped shirt, hat, glasses and walking stick amongst the crowd.

With more than 55 million books sold worldwide, Where's Waldo? is available in more than 38 countries and has been translated in over 30 languages.

Fun Fact: Waldo is actually called Wally in most international editions outside of the U.S. and Canada.

With his international following, the makers hope to create a movie with a strong global appeal.

We are thrilled to be bringing the search for Waldo to the big screen, MGM's President of Motion Picture Group Jonathan Glickman said on Monday. Along with our partners at Classic Media, we look forward to making a worldwide adventure that will appeal to 'Where's Waldo?' fans of all ages.

Waldo is the most searched-for character in the world, added Eric Ellenbogen, co-CEO of Classic Media, which owns the rights to Where's Waldo?

Thanks to MGM, fans everywhere will find Waldo in movie theaters with his motion picture debut, Ellenbogen added.

In addition to Waldo, Classic Media owns and manages brands including Casper the Friendly Ghost, Lassie and The Lone Ranger.

While the details of the Where's Waldo? movie are sparse, one can only hope that Waldo finds his way into the arms of Wendy or Wilma, enjoys quality time with his dog Woof, and steers clear of his arch-nemesis (and doppelganger) Odlaw.

To get you in the mood, here's the fake Werner Herzog narrating a Where's Waldo book: