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Dreamworks Animation SKG INc Chief Executive Jeffery Katzengerg has finally revealed that there will be a sequel to the hugely popular animation movie called Kung Fu Panda and could make an official announcement within the next two day.

The news just came in on Reuter. It has surely excited us to post it as soon as possible.

“We’ve started conversations about it, and I think in the next 30 or 60 days, we’ll be able to talk completely about that,” Katzenberg told Reuters, when asked about a follow-up to a film that has raked in $560 million in global ticket sales.

The film that is set in China tells about the story of a Panda who is destined for some Kung Fu Greatness. But before he can truly take up the command of a dragon warrior he has to work hard on his self esteem. The film was loved by critics even though trailer were real crappy.

Katzenberg was speaking to reporters at a screening for portions of his new upcoming sequel Madagascar Escape to Africa can’t really stop laughing from the previous one. It is set for a November 7 the US release.

The original movie tells the story of animals on the loose from New York Central Zoo. They begin to cause mayhem all over and loads of laughs ensue. It was the biggest non sequel hit for Dreamworks grossing around 530 million in world wide sales until Kung Fu Panda came and blew it away.

The news of the Panda sequel has come as a welcome relief for the shares of the company that has gone through a studio slump in late July. But these are all going to turn for the better in the coming months.