Get ready for some more insect-sized superhero shenanigans as Ant-Man 3 is on the way. Rumors have persisted that a third installment of this solo trilogy will be happening in the Marvel Cinematic Universe, but it wasn't included in Marvel's announcements at either San Diego Comic-Con or D23 over the summer. Now, we have word that director Peyton Reed has signed on to helm the third installment, with Paul Rudd once again set to return as Scott Lang.

According to a new report, Marvel Studios has locked down Peyton Reed for Ant-Man 3. Plot details remain under wraps for the sequel, but it will serve as Paul Rudd's fifth turn as the hero within the MCU. Rudd debuted as the character in 2015's Ant-Man, then reprised the role in Captain America: Civil War. Last year saw Rudd suited up alongside Evangeline Lilly's Wasp in Ant-Man and the Wasp. Most recently, Rudd was a major player in this year's Avengers: Endgame, after sitting out the events of Infinity War. Avengers: Endgame went on to become the highest-grossing movie in history with $2.79 billion worldwide.

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Peyton Reed directed Paul Rudd in both previous installments of the franchise. Originally, Ant-Man was supposed to be directed by Edgar Wright (Baby Driver, Hot Fuzz). However, just months before shooting, Wright left the project over creative differences, paving the way for Reed, whose other credits include Bring It On and Yes Man, to take over. Reed's efforts have been successful both critically and commercially. Ant-Man grossed $519 million globally, with Ant-Man and the Wasp doing even better with $622 million. While it seemed certain a sequel would move forward, it wasn't clear if it would once again be Reed in the director's chair, as there are quite a few other projects coming down the pipeline at Marvel Studios right now that he would perhaps be suited for.

Production is expected to begin in later 2020 or early 2021. While no release date has been set, it's expected that the movie will arrive in 2022, making it part of Phase 5 of the MCU. On the big screen, Phase 4 will consist of Black Widow, Eternals, Shang-Chi and the Legend of the Ten Rings, Doctor Strange in the Multiverse of Madness and Thor: Love and Thunder. Phase 5 will also include Captian Marvel 2, Black Panther 2, a Blade reboot and reboots of the X-Men and Fantastic Four.

At present, it's not clear if Evangeline Lilly, Michael Douglas or Michelle Pfeiffer will be back. Though, it seems likely their characters will factor into whatever story is cooked up. It's possible we could see Scott Lang's daughter Cassie become a more involved player, as she grew up quite a bit in the five-year time jump that occurred in Avengers: Endgame. We'll be sure to keep you posted as further details on the project are made available. This news comes to us via The Hollywood Reporter.