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A sequel to the classic comedy "Spaceballs" is in the works at Amazon MGM Studios with Josh Gad set to star and co-write and original director Mel Brooks, 97, on board as producer.

The "Frozen" actor shared the news Tuesday on Instagram after it was first reported by The InSneider newsletter, which also said that Josh Greenbaum ("Barb and Star Go to Vista Del Mar") will direct. The Hollywood Reporter and Variety also confirmed the news.

"We are very excited!" Gad wrote on Instagram. "Early days still, but working with the legendary Mel freaking Brooks to make something worthy of this franchise and his legacy has been a dream come true."

He added that he and the rest of the team behind the sequel "worship at the alter of all things Brooks" and "are doing everything in our power alongside Mel to make sure you get what you've waited 37 long years for."

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USA TODAY has reached out to Amazon MGM Studios for more information.

Dan Hernandez, who was reported to be co-writing the script with Gad and Benji Samit, also confirmed the news on X. Working with "our writing hero" Brooks is "quite literally a dream come true," he said.

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Released in 1987, "Spaceballs" parodied the "Star Wars" franchise and was directed and co-written by Brooks, who also starred alongside Bill Pullman, John Candy and Rick Moranis. Though the film never received a sequel, it did jokingly tease a follow-up titled "Spaceballs 2: The Search for More Money."

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If the "Spaceballs" sequel comes to fruition, it would be the latest Brooks comedy to receive a follow-up many years later after his 1981 film "History of the World, Part I" received a Hulu series, "History of the World, Part II," in 2023. Brooks produced the show and also served as narrator.

Earlier this month, Gad appeared to hint at a possible "Spaceballs" sequel by posting the cover page for the third draft of a script he wrote with Hernandez and Samit. Though the title and director weren't revealed, fans noticed it seemed to say it was based on characters created by Brooks, and it opened in a star field.

Gad teased at the time, "Just handed in a film script that I think may be the funniest and best thing I've ever worked on and I am so freaking excited."

In a 2013 interview with Heeb Magazine, Moranis said Brooks originally wanted to make a sequel to "Spaceballs" after it became a cult hit on home video. The actor also revealed his own pitch for the film.

"My idea for it was 'Spaceballs III: The Search for Spaceballs II,'" Moranis said. "And I was unable to make a deal with Mel. I couldn't make a deal."