Sir Ian McKellen will be playing Gandalf the Grey in Guillermo del Toro's upcoming adventure epic "The Hobbit," and the actor recently gave the folks at Empire a quick update about the big upcoming project.

“The scripts for the two films will be delivered very soon,” he said. “Then they'll be budgeted, and then they'll be cast. And they'll be going when they've always said they would be, which is next spring – March or April.

"Guillermo even told me at one point, 'We're going to film for 383 days.' He's got that artistic autism! Jackson's the same; they're very, very, very alike. They also very different, but they've so much in common," he said.

McKellen also told Empire that Jackson and del Toro are obsessed with gore and fantasy. Oh, and they hate Hollywood. Who doesn't?

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After plenty of speculation, Sir Ian McKellen has finally confirmed he will return in the role of Gandalf in Guillermo del Toro’s upcoming “The Hobbit.”

According to Empire Online, McKellen is pretty excited about traveling back to Middle Earth. At a recent screening of “The Dark Knight,” the “X-Men” actor said he will be a part of “The Hobbit” although he hasn’t signed a contract yet.

McKellen also said he’s looking forward to working with del Toro and Andy Serkis, who is also returning in the role of Gollum. Peter Jackson is producing.

“The Hobbit” is based on a book by J.R.R. Tolkien and serves as a prelude to “The Lord of the Rings” trilogy.

McKellen most recently starred in “X-Men: The Last Stand.” His acting credits also include “The Da Vinci Code,” “The Lord of the Rings” films and “X2.”

McKellen returning as Gandalf? That’s great news. What do you think?