Marvel boss Kevin Feige has confirmed that Deadpool 3 will be R-rated and in the MCU.
In a recent interview with Collider, Feige confirmed that although it's in the pipeline, the next instalment of Deadpool is still in early stages.
Speaking to the news outlet, he said: "It will be rated R and we are working on a script right now, and Ryan's overseeing a script right now... It will not be [filming] this year."
With many projects put on hold in 2020, Deadpool star Reynolds is playing catch up.
Feige added: "Ryan is a very busy, very successful actor. We've got a number of things we've already announced that we now have to make, but it's exciting for it to have begun.
"Again, a very different type of character in the MCU, and Ryan is a force of nature, which is just awesome to see him bring that character to life."
The ball got rolling back in November, with sources confirming to Deadline that sisters Wendy Molyneux and Lizzie Molyneux-Loeglin are lined up to write the forthcoming movie, with Ryan Reynolds set to reprise his role as the potty-mouthed superhero.
Deadline reported that writer meetings have been 'taking place over the past month with Reynolds recently meeting with a handful of writers to hear their pitch for the next instalment'.
"In the end, the studio and Reynolds saw the sisters' take as the perfect fit for what they wanted," Deadline says, adding that while the film is still in 'early development', the hiring of the Molyneux sisters marks the 'first major step' in getting the next instalment into production.
The third Deadpool movie will be the first of the franchise to be part of the Marvel Cinematic Universe, with many fans excited to see Marvel Studios working with Reynolds and co.
We've been waiting a while for any firm update on the project, not least because 2020 saw delays across the board for the entertainment industry.
In December 2019, Reynolds assured us that work was already underway on Deadpool 3 over at Marvel Studios, saying it felt 'crazy' to be working with the comics giant.
Sharing the update during an interview on Live With Kelly and Ryan, the actor said: "We're working on it right now with the whole team.
"We're over at Marvel [Studios] now, which is like the big leagues all of a sudden. It's kinda crazy. So yeah, we're working on it."