DreamWorks Animation CEO Jeffrey Katzenberg has announced that the studio is considering a sequel to their boxoffice hit Kung Fu Panda, according to The Hollywood Reporter.

"We've started conversations about it, and I think in the next 30 or 60 days, we'll be able to talk completely about that," Katzenberg told Reuters, when asked about a follow-up to a film that has raked in $560 million in global ticket sales.

Set in China, Kung Fu Panda follows the journey of a clumsy-yet-lovable Panda named Po, voiced by Jack Black, in his efforts to become a kung fu warrior.

Katzenberg was speaking to reporters at a screening for portions of the studio's upcoming animated film Madagascar: Escape 2 Africa, set for a Nov. 7 U.S. release.

The original Madagascar in 2005, which tells of animals on the loose from New York's Central Zoo, had been DreamWorks Animation's biggest hit for a non-sequel movie with $530 million in global ticket sales until being passed by "Panda" in recent weeks.

A definite announcement is expected within the next two months.