It’s been four years since Tim Allen and Tom Hanks‘ last outing as Buzz Lightyear and Woody in Toy Story 4. By the sounds of it, they’ll be getting into character again in the not-so-distant future.

During a recent interview, Tim, 70, teased some exciting news about Toy Story 5 amid rumors that the project is in the works.

By the sounds of it, there’s a lot for fans to look forward to!

Keep reading to find out more…

While on The Tonight Show Starring Jimmy Fallon, Tim confirmed that the project is in the works. It looks like they’ve made some good headway into it, too.

“Bob Iger, head of Disney, said it was on,” he told host Jimmy Fallon. “He actually said it was going to happen. They have reached out to Tom and I to reprise the roles. They’re not saying anything about it.”

He continued, expressing some hesitance about returning for a fifth movie.

“For people like me, it’s just like — I’m a sci-fi buff. You wonder if four was too many? Is five going to be too much,” Tim admitted.

There’s some good news about the movie, though: “According to the scuttlebutts, the writer that’s doing it wrote one of the better ones and he said, ‘If I didn’t get this right, I wouldn’t do it.’ So it could be a very, very interesting way to reunite it.”

If you missed it, last year Tim spilled some tea about his relationship with Tom.

More recently, he hinted at plans to reboot one of his other big projects.

Press play on Tim Allen’s interview below…