Party on: Co-stars confirm "Bill and Ted 3" on its way

The excellent adventure continues for Bill and Ted.

Keanu Reeves and co-star Alex Winter confirm that 23 years after the last film -- the third installment in the time travel franchise is well on its way.

Winter said the film centers around its main characters as adults and what they've been up to since we saw them last.

"[Bill & Ted] will be 40-something and it's all about Bill and Ted grown up, or not grown up," Winter told Yahoo Movies. "It's really sweet and really f---ing funny."

"Bill and Ted 3" does not have a release date yet.

"It just takes a long time to put a movie together," Winter said. "Now we're having to build this thing in public, which is fine. I just feel bad [the fans] have to get dragged through this long, boring, protracted process."

Dean Parisot, who took the chair for "Galaxy Quest" and "RED 2," will be directing the film.

Reeves -- now 50 years old -- told GQ the team is currently punching up the script.

"When we last got together, part of it was that Bill and Ted were supposed to have written the song that saved the world, and it hasn't happened," said Reeves. "The script's been finished for a while, but comedy is so specific," he said. "We're in that world where producers are on, financiers are on and we're just working and reworking the script."

Napoleon? Abraham Lincoln? Who would you like to see reappear in "Bill and Ted 3"? Sound off in the comments section below!