'Zoolander 2': Ben Stiller Confirms Movie, Talks Plot

Here's some really, really ridiculously good news: Ben Stiller confirmed 'Zoolander 2,' is happening, and even gave some big plot spoilers.

After co-star Owen Wilson talked up the development of the film in December, Stiller took it up a notch in an interview with Empire Magazine, saying he'd finished and submitted the script and then talking about what's happened to the characters since the first film, and what to expect in the sequel.

"It's ten years later and most of it is set in Europe," Stiller revealed. "I don't want to give away too much, but it's basically Derek [Stiller's character] and Hansel [Wilson's] ten years later - though the last movie ended on a happy note a lot of things have happened in the meantime."

Not a lot of good things, he specifies. But good news for fans: their favorite villain may be coming back.

"Will Ferrell is written into the script and he's expressed interest in doing it. I think Mugatu is an integral part of the Zoolander story, so yes, he features in a big way."

Back last February, 'Zoolander' director and co-writer Justin Theroux headed to Paris Fashion Week to research the latest trends in fashion -- most likely so that the script could make fun of them.

CORRECTION: A previous version of this article indicated that Stiller starred in "Submarine." That is false, and the error has been omitted above.