The status of Deadpool 3 has been murky at best ever since the Disney-Fox merger, but star and producer Ryan Reynolds has finally offered an update. In an interview on Live with Kelly and Ryan, Reynolds was asked about whether a third entry was on the way and confirmed it's still happening.

"Yeah we're working on it right now with the whole team," Reynolds confirmed. "We're over at Marvel [Studios] now, which is like the big leagues all of a sudden. It's kinda crazy. So yeah, we're working on it." He didn't reveal when fans can expect the first Disney-produced Deadpool, but his comments will undoubtedly ease fans nervous about the future of the franchise.

When the news broke that Disney had acquired Fox, the distributors of the X-Men and Deadpool films, some fans worried the series would be put to bed since it doesn't fit into Marvel Cinematic Universe due to its R-rating. However, Reynolds has indicated that Marvel Studios has already greenlit Deadpool 3, although it's unclear whether the film will be set in the MCU at all.

Screenwriting duo Rhett Reese and Paul Wernick, who co-wrote the second Deadpool with Reynolds, said earlier this year they were waiting for a go-ahead from Disney. "There's a lot to be sorted out, like how Deadpool fits into the Marvel Universe with the other characters and into the release schedule of the MCU," Wernick said. "Then it's, do the X-Men get in there at some point? Fantastic Four? There's a lot to be sorted out and I think we're all getting a much needed rest from Deadpool."

Those involved with the series have promised that another film will arrive eventually, and thankfully Disney CEO Bob Iger said he's happy to keep the series rated R. "We will continue in that business," he said in February, adding that "there's certainly popularity" for R-rated superhero movies.