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It's been more than 20 years since Keanu Reeves traveled through time in a phone booth as a slacker high school student.

1989's Bill & Ted's Excellent Adventure was later followed up with 1991's Bill & Ted's Bogus Journey -- and the pair could soon be back.

"I'm open to the idea of that," Reeves said on the Today show on Monday. "I think it's pretty surreal, playing 'Bill & Ted' at 50. But we have a good story in that. You can see the life and joy in those characters, and I think the world can always use some life and joy."

Reeves, who starred alongside Alex Winter in the films, says that there's actually some movement happening with a third film. "Yeah, there's a story; there's a script," he said. "We're trying to get the dough together to make this crazy story."

As for a possible storyline for the characters, he doesn't elaborate beyond saying that "they do indeed evolve."

"I can talk about it, but I shouldn't talk about it," he said. "But I could talk about it, but it's ... interesting."