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Prepare to meet the Little Fockers.

Universal Pictures has given the green light to a third installment of the popular comedy franchise that began with 2000's Meet the Parents, after renewing its deal with Robert De Niro's Tribeca Productions for another two years.

Word that another sequel was on the way broke last month, after Teri Polo told the Associated Press she was preparing to reprise her role as Pam Byrnes Focker, the wife of Ben Stiller's misfortune-plagued character, Gaylord "Greg" Focker. 

At the conclusion of 2004's Meet the Fockers, Pam and Greg had just traded vows in a hastily planned wedding at after learning that Pam was pregnant—a detail that set the stage for the upcoming Little Fockers.

While De Niro, Polo, Stiller and Blythe Danner are expected to reprise their roles, producers are also hoping to bring back Dustin Hoffman and Barbra Streisand, who played Greg's parents in Meet the Fockers.

Jay Roach, who directed the first two films, is expected to helm the third as well, while his former assistant, Larry Stuckey, will write the script.

The films have proven to be one of Universal's most successful franchises. Meet the Parents grossed $330 million worldwide, while Meet the Fockers grossed $515 million.

So far, there's no word on an expected release date for Little Fockers.