When it was released in September 2001, few people could have ever expected that "Zoolander" would have taken off as far as it has. Earning more than $61 million at the box office for a comedy is quite a feat.

Perhaps unsurprisingly then, rumors of a sequel have been surfacing repeatedly over the past decade, yet nothing has been put into production.

Will Ferrell, who plays the memorable villainous fashion designer Mugatu in the film, has just confirmed with JoBlo that there is indeed a script for "Zoolander 2" and it's currently up to the studio to confirm whether or not the film will be a wise investment for them.

"We are actually supposed to do a read-through of a sequel script soon, and Mugatu is a part of it," he said.

While this is great news for fans of the fashion world parody, there is still a lot of work between getting the film approved and actually getting it into theaters. With that said, this is the most progress that has been made since sequel rumors started floating soon after the original release, rumors which were started by Ben Stiller in 2008. "We're in the process of getting a script written, so it's in the early stages. But yeah, it's going to happen," Stiller told MTV in a 2010 interview.

"It's 10 years later and most of it is set in Europe. It's basically Derek and Hansel though the last movie ended on a happy note, a lot of things have happened in the meantime," he stated to Empire the following year.

"Their lives have changed and they're not really relevant anymore. It's a new world for them. 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."

At that point, "Leftovers" star and writer of "Iron Man 2" Justin Theroux has been confirmed to have been the writer of the final script, although the final details for the most current script have not been disclosed.

The first "Zoolander" was directed by and starred Ben Stiller. The character was based on a pair of short films co-written by Stiller for the VH1 Fashion Awards in 1996 and 1997.

The film currently has an 81 percent audience certified fresh rating on Rotten Tomatoes.

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