"Spaceballs 2" has officially been announced. And with it returns fan-favorite actor Rick Moranis, who hasn't been seen in a theatrical film since 2003.

Josh Greenbaum is set to direct “Spaceballs 2″ with a script written by Benji Samit, Dan Hernandez and Gad. Samit, Hernandez, Adam Merims and Kevin Salter will serve as executive producers along side Greenbaum, Gad and Brooks.

This is not a drill, movie fans! A Spaceballs sequel is in the works and set for release in 2027 — and three of its original stars will reprise their roles.