Just a quick note for those of you out there who love your found footage scares, yes, another installment in the Paranormal Activity story is on the way.

Original director and franchise producer, Oren Peli, has informed Dread Central that Paranormal Activity 3 is already well on its way, and that the movie will come to haunt your dreams on October 21, 2011. No indication yet on where the movie will pick up from or where it’s heading story wise.

The first film in the soon-to-be trilogy only cost an unbelievable $15,000 and went on to bring in over $190 million worldwide. The sequel, which came out last month, had a bit of a drop, costing $3 million to make and brought back over $150 million worldwide — still an incredibly significant turnaround, to say the least.

These numbers make it a zero-thought decision on whether or not to keep their little fear fest-that-could moving forward with a third movie. The question now is if they cap their story off with the clean trilogy, or if this franchise is about to become the next Saw with a new chapter each and every year.

What do you fine folks thing; ready for more Paranormal Activity?