Last week, we reported that actor Keanu Reeves is providing the narration for his longtime friend Alex Winter's new documentary Deep Web, which debuted at the South by Southwest Film Festival this past weekend. Both Keanu Reeves and Alex Winter, who starred in Bill and Ted's Excellent Adventure and Bill and Ted's Bogus Journey, appeared at SXSW yesterday, where Alex Winter gave an update on their long-awaited sequel Bill & Ted 3. The project has been in development for several years, and although now it is closer than ever to happening, Alex Winter revealed to Yahoo! Movies that if production doesn't start soon, the sequel may never happen. Here's what he had to say below.

"We're really close. We're just about there. In Hollywood parlance, [that] means we'll either be shooting soon, or it's never going to happen."

Although Alex Winter retired from acting in 1993 to focus on documentary filmmaking, he will still be back to play Bill S. Preston, Esquire. When asked if he's sick of the inevitable Bill & Ted 3 questions whenever he talks to the press, the actor said that the fan interest has been driving them to get the movie made.

"We're trying to get the movie made, so how could we be sick of it? It's really been us driving the whole thing, me and Keanu and [writers] Chris [Matheson] and Ed [Solomon]. So we're producing it and we're actively trying to get it made. We're not tired of it, but I think for our fans, we are eager to stop talking about and actually shoot the damn thing."

Dean Parisot signed on to direct Bill & Ted 3, and we last heard about the project back in October, when Keanu Reeves teased that the story will follow Bill and Ted as they are faced with the burden of writing the song that will literally save the world, but they just can't put it all together quite yet. The actor also teased that Bill and Ted's future selves come back in time to warn their present selves that if they don't write the song by a certain date, everything will change, including dinosaurs walking the Earth and wormholes emerging, which is connected to bringing their families together to write this song. Do you hope Bill & Ted 3 starts shooting very soon? Let us know what you think below.