Watch This Extremely Pure Clip of Keanu and Alex Winter Announcing 'Bill & Ted 3'

It looks like Wyld Stallyns will make a most bodacious return next year, everybody. On Wednesday, Keanu Reeves and Alex Winter revealed that the long-rumored third Bill & Ted movie will actually, finally, officially start shooting this summer—and the thing already has a release date.

In an Extremely Pure announcement video, Reeves and Winter joined up in front of the Hollywood Bowl in LA to say that Bill & Ted 3, called Bill & Ted Face the Music, is going into production soon and is slated to hit theaters in August 2020.

It's been decades since the release of Bill & Ted's Excellent Adventure and the batshit follow-up, Bill & Ted's Bogus Journey, and both Reeves and Winter have gone their separate ways. These days, Winter is working mostly as a documentary director while Reeves avenges the untimely death of his pets and rides horses through city streets, but they've been talking about wanting to do a third Bill & Ted movie for years. They seem genuinely stoked to be together again in the video.

"We want to say thank you to you, our fans," Reeves says, looking significantly older and more bearded than the last time we saw Ted "Theodore" Logan, but still just as bouncy and stoked as ever. "It looks like we might—"

"Actually," Winter cuts in.

"Hopefully," Reeves says.

"Make a movie this summer!" Winter says. Classic!

The franchise's creators, Chris Matheson and Ed Solomon, gave some details on the film's plot last year, when they were first teasing Face the Music. "At 16, you're told you're going to save the world, and now you're 50, and you haven't done it," Matheson told PEOPLE. "It affects their marriages and it affects their relationships with their kids and it affects their everything. And then the future actually shows up and is like, 'You've got to do it right now.'"

"It's kind of like A Christmas Carol with Bill and Ted," Solomon said.

Director Dean Parisot is on board to helm the film, based on a script by Matheson and Solomon. Parisot is the director behind Galaxy Quest, a movie that was significantly better than it had any expectation or right to be, so it'll be exciting to see what he does with Bill & Ted 3.

Bill & Ted Face the Music is due out on August 21, 2020. Until then, be excellent to each other. Let's hope this one is worth the wait.

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