This could very well be the news that all "Lord of the Rings" fans have been waiting for, and, coming of off the back of our very own exclusive with Andy Serkis, things are looking up for "The Hobbit". As Gandalf the Grey/White (depending on which reincarnation you prefer), AKA Sir. Ian McKellen, has expressed his wish to return to Middle Earth for 2010's "The Hobbit".

On his official E-Post, McKellen fielded some very eloquent questions posited by several "Lord of the Rings" fans, all of which gravitated toward one simple query...will he reprise his most famous role?

"Yes I will, if Peter Jackson and I have anything to do with it, he being the producer and me being, on the whole, a very lucky actor...Encouragingly, Peter and Fran Walsh have told me they couldn't imagine The Hobbit without their original Gandalf. Their confidence hasn't yet been confirmed by the director Guillermo del Toro but I am keeping my diary free for 2009" posted McKellen.

So, with the pieces seemingly falling in to place, del Toro officially confirmed as director and the likes of McKellen and Serkis declaring their interest it looks like new owners Warner Bros. and their New Line Studio have got another built-in blockbuster in the offing. The prequel will be split in to two films staggered over 2010 and 2011 release slots.