The film titled Bill & Ted Face The Music has been opened up to worldwide sales at the Cannes Film Festival and it'll likely go pretty quickly, according to The Hollywood Reporter. Although they've penned thousands of tunes over the years, but have fallen well short of the greatest song ever written.
The founding members (and in the original, the only members) of rock band Wyld Stallyns, destined to become the most famous musicians in the history of the universe, upon which an idyllic future society is based.
Alex and Keanu added "We couldn't be more excited to get the whole band back together again".
Decades have passed, but the long-awaited news we've all been waiting for is finally coming true - there's a new Bill & Ted movie officially on the way. Steven Soderbergh will serve as an executive producer alongside Scott Fischer, John Ryan Jr., and John Santilli.
The third instalment will not be set in the future shown in the previous films - Bill and Ted are now world famous musicians - instead they are just middle aged guys with family, whjo are still bad at music.
With the fabric of time and space tearing around them, a visitor from the future warns that only their song can save life as we know it - forcing Bill and Ted to set out on another time-travel adventure. In the United States, Face the Music will be released by MGM under the Orion Pictures banner that distributed the first two movies. The film is now in pre-production.More news: Bardem and Cruz walk the red carpet to open Cannes Film Festival
Bill & Ted's Excellent Adventure was an unexpected success.
"We have a script that we really are proud of, that we worked very hard on, that we've done many iterations of - and we did it on spec, meaning we spent years working on it because we wanted to get it right, creatively".
It's been 27 years since their last adventure. The characters have also featured in other media including several video games and a comic book.
Reeves went on to be a massive star, making classics like Speed, Point Break, The Matrix and John Wick.
Parisot won an Academy Award for his short live-action film The Appointments of Dennis Jennings and is known for projects including Galaxy Quest, RED 2 and Fun with Dick and Jane.