Bill & Ted are back. Excellent!

This combination photo shows Keanu Reeves attending the BUILD Speaker Series to discuss "John Wick: Chapter 2" in New York on Feb. 2, 2017, left, and Alex Winter at the premiere of "Smo

It's been a long time coming but the return of everyone's favourite time travelling metal head slackers is finally happening.

After years of rumours and speculation a third Bill & Ted film has been confirmed and has now entered pre-production.

Bill & Ted Face The Music will be the first movie in the cult hit franchise for 27 years. It will continue the story started in 1989's Bill & Ted's Excellent Adventure and 1991's Bill & Ted's Bogus Journey.

Keanu Reeves who plays Ted Theodore Logan and Alex Winter who stars as Bill S Preston Esquire will both return to the roles, while original creators Chris Matheson and Ed Solomon are onboard as writers. Dean Parisot of Galaxy Quest fame will direct.

In a press statement Reeves and Winter said, "We couldn't be more excited to get the whole band back together again."

The movie will follow the pair, now middle-aged with family and responsibilities, warned by a visitor from the future that their band Wyld Stallyns still need to write the greatest song ever written to prevent the fabric of space and time tearing apart.

A release date has not yet been confirmed.