Penelope Cruz to Star in Ben Stiller's "Zoolander 2"

Good news for Ben Stiller fans! "Zoolander" sequel, starring and directed by Stiller is finally on its way. And this time, Stiller will be joined by the gorgeous Spanish actress, Penélope Cruz.

While Stiller will be behind the camera in "Zoolander 2", Justin Theroux has reportedly worked on the script for Paramount Pictures, Deadline reports.

"The Secret Life of Walter Mitty" star will definitely reprise his role as the empty-headed supermodel Derek Zoolander, but it has not been confirmed as yet whether Will Ferrell and Owen Wilson will be back as the sinister Mugatu and Zoolander's supermodel rival Hansel, respectively. Stiller and Stuart Cornfeld are producing the flick for Red Hour.

According to Time, Stiller has not disclosed as to what role Cruz will be playing in the sequel.

Cruz had been filming for the Julio Medem-directed "Ma ma" in Spain. She plays a small role in the Sacha Baron Cohen comedy "Grimsby" as well.

The sequel is coming around 13 years later. Talks of producing it has been going on for years now, but nothing substantial was decided until now.

Stiller had revealed a few details of the script to Empire in 2011. He had said: "It's ten years later and most of it is set in Europe. I don't want to give away too much, but it's basically Derek and Hansel ten years later. Though the last movie ended on a happy note, a lot of things have happened in the meantime. 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."

In the original movie, Carrey, Daniels and Stiller had been very committed to their characters. Most hilarious moments included the mugging buffoon supermodel's Blue Steel scene to the catwalk showdown between him and rival Hansel. The freak gasoline fight accident is without doubt one of the funniest movie comedy moments in recent years.