[UPDATE] November 1, 2018 6:14 p.m. EST After being announced by Sony Pictures back in May, Will Smith and Martin Lawrence are now confirming that the third installment in the 'Bad Boys' series, officially titled 'Bad Boys for Life,' is a go.

Lawrence first broke the news via social media just yesterday, stating, "It’s official. Bad Boys for Life." Today, Smith posted a new video on his Instagram, captioned, "It’s been a LOOOONG time Coming. But now it’s Here! @BadBoys For Life ? We back!! @martinlawrence."

'Bad Boys for Life' will serve as a followup to 2003’s 'Bad Boys II.' The film, to be directed by Adil El Arbi and Bilall Fallah, is due out January 17, 2020.

Read our original post below.

Back in 2016 during an interview with BBC Radio, Will Smith insisted that Bad Boys 3 would be happening, and now according to EW, the sequel to 2003's Bad Boys II is confirmed for 2020 and officially titled, Bad Boys for Life.

Sony Pictures made the news official on Wednesday, as this third installment of the buddy cop action comedy franchise starring Will Smith and Martin Lawrence will premiere on January 17, 2020.

This comes as a surprise as last August, the film was scrapped from the studio's release calendar, and Martin Lawrence even told EW, "I don’t think we’re going to get one, not the way everything’s turning out."

Additionally, this past fall, a spinoff TV series on the original 1995 Bad Boys film was reportedly in the works starring Gabrielle Union.

For the full story, head on over to EW.

Now, watch Deadpool troll David Beckham in this hilarious teaser for 'Deadpool 2.'

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