Studio Confirms 'Men in Black 3' With Will Smith, Tommy Lee Jones 'In Negotiations' To Return

Men In BlackMark your calenders, the "Men In Black" are officially making a comeback.

Will Smith has been signed to reprise his role as Agent J in "Men In Black 3," according to The Hollywood Reporter. Tommy Lee Jones is also reportedly "in negotiations" to return as Agent K. Director Barry Sonnenfeld is also signed to helm the film, which will be released in 3-D.

The article also confirms earlier reports that the story will feature a time-travel element and states that "most of the action takes place in 1969." Josh Brolin is also in talks to portray a younger version of Jones' Agent K, who teams up with Smith's character in the past; confirming rumors that first surfaced back in December.

Last October, Columbia began moving forward with the project by hiring "Tropic Thunder" screenwriter Etan Cohen to handle the script. However, the current draft of the script is being rewritten by David Koepp ("Spider-Man). The story details are also reportedly still being worked out.

Earlier this year, Smith's participation in the sequel was unclear as he was said to be deciding between appearing in "Men In Black 3" or starring in an original film titled "City That Sailed." However, Sonnenfeld recently made statements that seemed to indicate that Smith and Jones were officially on board for the sequel.

Sacha Baron Cohen and Jemaine Clement are also rumored to be up for roles within the film.

"Men In Black 3" will neuralize movie-goers on May 25, 2012.

What are your thoughts on the time-travel elements of "Men In Black 3"? Should Tommy Lee Jones sign on to the film? Which actors would you like to see portray aliens in the new film? Shine a light our way and let us know what you're thinking in the comment section or on Twitter!