Austin Powers may be back, baby.

Mike Myers is in negotiations with New Line Cinema to make a fourth "Austin Powers" film, an individual familiar with the situation confirmed to TheWrap.

The individual told TheWrap that a deal is expected.

It's been nine years since the last "Austin Powers" movie.

The "SNL" alum, who writes, produces and stars as multiple characters in each film, has made three Austin Powers movies: 1997's "Austin Powers: International Man of Mystery," which commanded $67.7 million at the box office.

A report on HitFix that Myers had closed his deal was incorrect, according to two individuals with knowledge of the negotiations. New Line has long wanted to make the movie, but coming to terms with Myers has been complicated.

Negotiations to make the sequel have been ongoing for more than a year, one of those individuals said.

In 1999, "Austin Powers: The Spy Who Shagged Me" proved its value: It had a production budget estimated at $33 million budget and grossed $312 million worldwide.

The third installment, "Austin Powers in Goldmember," which featured BeyoncØ as the film's leading lady, was upped to a $63 million budget. It grossed $296.7 million worldwide in 2002.

With nine years since "Goldmember," Myers and the studio are working out the kinks for the fourth installment.

Myers is something of a franchise machine: He starred in the 1992 and 1993 "Wayne's World" movies. More important, he's the voice of "Shrek" in all four movies plus a short.

The actor had a small role in the 2009 "Inglourious Basterds," and wrote and starred in the badly received 2008 "The Love Guru."