One of my all-time favorite cheesetastic ’80s horror films is Stephen, Charles and Edward Chiodo’s 1988 The Killer Klowns from Outer Space, which follows a clan of aliens who look like clowns that terrorize a small town.

Fansite Freddy in Space caught up with Grant Cramer, who played ‘Mike Tobacco’ in the original film, to chat about the long-rumored sequel. While I personally never expected good news, Cramer revealed that a sequel is in fact on the horizon. Grab your cotton candy and get ready!

“We have a script and a commitment for all our funding but the money can’t be spent until we have a distribution deal in place so that’s where we are – talking to distributors. As soon as that final piece comes into place we should be pretty much good to go,” he told the site.

Cramer explains he’s penned the script for The Return of The Killer Klowns from Outer Space in 3-D and will be producing alongside the Chiodo brothers. Stephen Chiodo will direct once again. But what will the film be about, other than alien clowns?

“Well, I don’t want to say too much about the story at this early juncture but I will say that it is connected to the first movie and my character will be the mentor to the two new young leads that have to try save the world from the Klowns when they return,” Cramer reveals. “They’re also trying to save themselves because the bad stuff the Klowns do at first gets blamed on them.”

Check out a text-filled teaser trailer inside and then tell us what you think. Personally, I’ll pre-order my ticket now if it guarantees this gets made.