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Austin Powers 4 On The Way

But Anchorman sequel on hold…

Mike Meyers is reportedly working on a fourth installment of Austin Powers.

The shagadelic funny man is working on ideas for the film according to reports, and Jay Roach who directed the previous spy spoofs confirmed he is on board with the new film.

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He told MTV News, “Mike is working on ideas for it, people are definitely talking about it and I'm all good for it," the director said, before hinting that Powers would be going "somewhere you haven't thought of" in his next outing.

But it’s bad news for fans of Will Ferrell’s legendary Ron Burgundy because it looks like any plans for a follow up to Anchorman are on hold. 

Ferrell said it’s hard to get all the actors together at the same time, “I thought we were doing it. I was told it was happening and now I've heard it's going to be too hard to get everyone together.  Hopefully the director Adam McKay will be able to talk to all the guys individually and see if we can figure it out.”