UPDATED: Reeves Says Bill & Ted 3 ‘Bodacious’

UPDATED:  Is this movie still happening?  Not only still happening, but maybe even released this year.

Appearing at the Slamdance Film Festival this week, Steven Soderbergh confirmed to CNet that a script is done and he dubs it “hilarious”. Asked about a potential release date, he suggests it could be as early as this Christmas and adds: “That’d be a good Christmas present”.

PREVIOUSLY: Keanu Reeves has been talking Bill & Ted 3, which seems to be gaining traction.  He says that the movie is going to be ‘Excellent’ and ‘Bodacous’.

Reeves spoke with ET’s Deidre Behar at the press junket for his new film, The Neon Demon, and the 51-year-old star shared some exciting details about the hotly anticipated next installment in the beloved Bill & Ted franchise.

“It’s funny!” said Reeves, who revealed that a new draft of the script had recently been submitted. “It’s about the pressure of Bill and Ted having to save the world and it not quite working out.”

But the real question is – and this is totally random – what role will Gary Busey play?!