Earlier this week, we brought you the news that comedy superstar Will Ferrell made a surprise appearance on the late night talk show Conan as the character Ron Burgundy, the egotistical news anchor with a heart of gold and a brain of vanilla pudding he played in Anchorman: The Legend of Ron Burgundy. His appearance was to wow the audience with a jazz flute jam and to make the special announcement that a deal had been worked out with Paramount Pictures for a sequel to the 2004 hit comedy to finally move forward.

Funny or Die, the website Ferrell co-created with friend and frequent collaborator (and co-writer and director of Anchorman) Adam McKay, has posted a video chronicling the moments before and after Ferrell’s Conan appearance. You can check it out here below.

It’s been rumored off and on for many years now, but fans of the hit 2004 comedy Anchorman: The Legend of Ron Burgundy can finally celebrate: Anchorman 2 is officially happening.

Star Will Ferrell made the announcement in full character on tonight’s episode of Conan, which can be seen in a video below.