Ted “Theodore” Logan and Bill S. Preston Esq. are coming back and making all of our ‘80s dreams a reality.

It's been 27 years since Bill and Ted went on their last excellent adventure, but Keanu Reeves and Alex Winter will be starring in "Bill & Ted Face the Music" and it was officially announced Tuesday at Cannes, according to the Hollywood Reporter.

MGM owns the rights and plans to release the movie under its Orion Pictures company, Variety reported.

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Recently, Reeves and Winter reunited for an article for Entertainment Weekly. The magazine says the movie will focus on the pair who have not yet taken Wyld Stallyns to the musical stratosphere as predicted in the first movie. They're now in middle age and are visited by someone from the future, who reminds them that their song is the only way to save life as we know it. They're helped by their children and more historical figures, that apparently include music legends, Entertainment Weekly reported.

"Bill & Ted Face the Music" is in preproduction and has been written by the original creators, Chris Matheson and Ed Solomon. Dean Parisot has been tapped to direct. He also directed "Galaxy Quest" Steven Soderbergh is executive producer, Variety reported.