"I love it, because I get to be involved," Reynolds said of reprising his X-Men Origins: Wolverine role. "And I'm such a huge fan of the character."
The actor and 20th Century Fox are looking for a director as well as someone to writer the film.
"I get to be the authentication police, in a weird way," Reynolds stated regarding the storyline. "To their credit - the studio's credit - they want to make an authentic Deadpool movie; they want to make it as close to the source material as possible."
Some of the things that Reynolds and Fox have determined are that "He's going to be the Merc with the Mouth, [we're going to give] all those answers that everyone wants," he offered. "He's going to have the scarred-up face, he's going to be in the suit - and, it's going to be incredible."
"Right now, it's just a question of trying to figure out what is the spine of the story," the actor said when mulling over possible plot points. "Who is the villain? What does Wade and/or Deadpool want?"
"And how do you tell that story? Are we going to see flashbacks to his old life, flash-forwards, present-day?" he added. "We're just trying to figure that stuff out."