This is not a drill: ‘Princess Diaries 3’ is happening!

It’s been 21 years since the first “Princess Diaries” movie graced movie screens and permanently embedded its place in our hearts, and we cannot stop fangirling over the news that a third movie is happening in the franchise!

The first two movies are adaptations of Meg Cabot’s novel series and starred the incomparable Anne Hathaway and Julie Andrews. After “Princess Diaries 2” came out in 2004 (the first time many of us swooned over Chris Pine, IYKYK), talks of a third movie never seemed to come to fruition. However, it looks as though the wait is finally over, as a third movie is officially in the early stages of development at Disney.

“The Princess Diaries” follows American teen, Mia Thermopolis (Anne Hathaway), who learns that she’s heir to the throne of Genovia, a small European country. She meets her formerly estranged grandmother, the current Queen of Genovia (Julie Andrews), who guides her and supports her to become the best princess she can be (shoutout to Hector Elizondo and his character’s makeover magic). In the end, Mia must decide if she wants to inherit the throne or remain, well, normal.

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If you’re wondering what’s up with the new sequel, here’s what we know so far.

Anne Hathaway is not confirmed to star in it…YET. Hathaway does not have a deal to return, according to sources, but she has publicly stated her support for a third installment, per an appearance on “Watch What Happens Live.”

Julie Andrews has confirmed she wouldn’t reprise her role as Queen Clarisse Renaldi, however. Speaking to The Hollywood Reporter to mark her AFI Life Achievement Award, she said: “I think it would be too late to do it now. Especially me, it’s too far down the line now to go back to it. It’s a lovely thought, but I don’t think it would probably be possible.”

“If there’s any way to get Julie Andrews involved, I think we would make it work. We would go to where she was and put a green screen behind her and just make it happen,” Hathaway said on WWHL.

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Mandy Moore, who memorably played the “cool girl” bully also said that she “would be game” to return when she appeared on The Drew Barrymore Show back in August.

No word yet on Chris Pine, who played the perfect enemies-to-lovers hero, Nicholas Devereaux. So we’re gonna need Disney to pay all of these people whatever they want in order to get the cast we deserve!

Aadrita Mukerji, whose credits include Supergirl and Quantum Leap is writing the script. Debra Martin Chase, who was a producer for the last two installments, is set to return for the third time. The late Gary Marshall directed the first two films, so no word yet on who’s at the helm of “Princess Diaries 3” just yet.

The news is very, very fresh—we’ll be sure to update accordingly once we learn more. But for now…YAY!