UPDATED 7:50 p.m. ET: Lupita Nyong’o was being considered to join the Bond 25 film, but her team told Deadline that it won't happen this time around.

Rami Malek is reportedly one step closer to securing his next big role. 

According to Collider, the 37-year-old actor is in "final negotiations" to star in Bond 25, the much anticipated installment of the James Bond franchise. Variety previously reported Malek was being eyed to play the next Bond villain opposite Daniel Craig, but his shooting schedule for Mr. Robot's final season couldn't accommodate the film's production shoot. Sources said the actor's team has since resolved the scheduling conflicts, and are trying to finalize the deal. "The sides just wanted to wait and see whether Malek would win the Oscar, which would, of course, raise his quote," Collider reports.

The news arrives just three days after Malek won the Best Actor Academy Award for his portrayal of Freddie Mercury in Bohemian Rhapsody

If Malek signs onto Bond 25 as expected, he will join a cast that it's expected to include Lea Seydoux, Naomie Harris, Ben Whishaw, and Ralph Fiennes. Variety reports there are three other big roles that have yet to be filled: a new MI6 agent, an accomplice reminiscent of Olga Kurylenko's character in Quantum of Solace, and an American CIA agent. Aladdin star Billy Magnussen is reportedly the top choice to play the latter. 

Stay tuned as more information about Bond 25 becomes available. The Cary Joji Fukunaga-directed film is expected to being production this spring and will hit theaters April 10, 2020.