It's officially official: The Matrix 4 is happening. After several years of rumors, hearsay and speculation, Warner Bros. has officially announced that a sequel in the iconic franchise is coming our way.

What's more, Keanu Reeves is set to reprise his role as Neo, with Carrie-Anne Moss also coming back as Trinity. Lana Wachowski, who co-directed the original trilogy with her sister Lily Wachowski, is on board to direct and co-write the script.

According to a new report, Lana Wachowski is officially signed on to direct the fourth installment, flying solo this time around. Wachowski will co-write the screenplay with Aleksander Hemon and David Mitchell. We had previously heard that Zak Penn had been hired to pen a potential follow-up. Warner Bros. Picture Group chairman Toby Emmerich confirmed the news personally. Emmerich had this to say in a statement.

We could not be more excited to be re-entering 'The Matrix' with Lana. Lana is a true visionary, a singular and original creative filmmaker, and we are thrilled that she is writing, directing and producing this new chapter in 'The Matrix' universe."

It isn't clear at the present time why Lilly Wachowski isn't returning alongside her sister for the new movie. It was previously suggested by John Wick franchise director Chad Stahelski that a new Matrix movie was in the works. Stahelski worked as a stuntman on the original trilogy. Those reports were quickly walked back. Though, it now appears he was right. Lana Wachowski had this to say in a statement.

"Many of the ideas Lilly and I explored 20 years ago about our reality are even more relevant now. I'm very happy to have these characters back in my life and grateful for another chance to work with my brilliant friends."

Plot details for the sequel are currently being kept under wraps. Previous reports indicated that the new movie rumored to be in development would have been a prequel, with Michael B. Jordan (Black Panther) possibly set to star. With both Keanu Reeves and Carrie-Anne Moss set to return, this will be a true sequel. It's not yet clear if other stars of the franchise such as Laurence Fishbourne, who played Morpheus, will also be returning.

Related: New Matrix Movies Will Expand Franchise Into a Shared Universe

The Matrix, released in 1999, was a groundbreaking and heralded cinematic achievement at the time of its release. The sci-fi flick went on to inspire two sequels, The Matrix Reloaded and The Matrix Revolutions, both of which are maligned by many fans of the original. The three movies grossed a combined $1.63 billion at the box office. Given the recent resurgence of Keanu Reeves, coupled with Hollywood's reboot-happy nature, the timing seems perfect to bring Neo back to the big screen for a bit of redemption. The Matrix 4 does not yet have a release date. We'll be sure to keep you posted as further details on the project are made available. This news comes to us via Variety.

Ryan Scott