Will Smith and Martin Lawrence announced Tuesday they are making a fourth “Bad Boys” movie.

The actors made the announcement on Instagram, and Sony Pictures announced Tuesday that the untitled “Bad Boys” sequel is in early pre-production.

It will be one of Smith’s most high-profile new projects since he slapped Chris Rock at the Academy Awards.

In the Instagram video, Smith said, “It’s about that time!”

Development on the “Bad Boys” sequel, which follows 2020′s “Bad Boys for Life,” was reportedly put on hold after Smith hit Chris Rock at last March’s Academy Awards. But last May, Sony Pictures chief Tom Rothman disputed those reports.

“There weren’t any brakes to pump because the car wasn’t moving,” said Rothman, per The Associated Press. “That was a very unfortunate thing that happened, and I don’t think it’s really my place to comment, except to say that I’ve known Will Smith for many years, and I know him to be a good person. That was an example of a very good person having a very bad moment, in front of the world. I believe his apology and regret is genuine, and I believe in forgiveness and redemption.”

“Bad Boys for Life” was a box-office hit, grossing $426 million worldwide. Producer Jerry Bruckheimer is returning for the fourth film, as are “Bad Boys For Life” directors Adil El Arbi and Bilall Fallah.

The Associated Press contributed to this report.