In a recent talk with SciFi Wire, writer/director Len Wiseman (Underworld: Evolution) told the site that he does indeed have ideas for a third Underworld film.

"Yeah, we have piles and piles of notes and everything," Wiseman said. "We sort of mapped out an entire history and story that we then went into and decided which one will embody the first film, second film, third film.

What it is, more so than three scripts, it is a massive collection of ideas and stories that we're putting out at certain times."