Mira Sorvino Says “Romy and Michele” Sequel Is 'So Close to Being Greenlit' — and Main Cast Is 'All in' on Script (Exclusive)

"Almost every single character from the original that was important is coming back," Sorvino tells PEOPLE of the sequel's script, pending actor deals

Mira Sorvino is giving Romy and Michele fans some positive news about the forthcoming sequel.

In a chat with PEOPLE alongside husband Christopher Backus surrounding their new movie Daft State, the actress and producer says a follow-up to 1997's Romy and Michele's High School Reunion is "so close to being greenlit," and that a director has even been hired.

"They've done his deal, they've done Lisa [Kudrow] and my deals as executive producers," says Sorvino, 57. "[Original screenwriter Robin Schiff] has written multiple drafts of an amazing funny script, which checks all the boxes for all the fans."

"And they're just going back and forth, tweaking things here and there, and [there are] rumors of shooting it second quarter next year," she adds, confirming that she and Kudrow, 61, would also return as the title characters.

"But," Sorvino continues, "it's not officially greenlit, so I can't say that it's officially greenlit,"

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Directed by David Mirkin, Romy and Michele's High School Reunion follows two ditzy-yet-well-meaning friends (Sorvino as Romy White and Kudrow as Michele Weinberger) who return to their high school in Tucson, Arizona, for their 10-year reunion, hoping to impress their former bullies — but end up learning the real meaning of friendship and self-love instead.

Romy and Michele has become a cult classic for its themes about friendship and empowerment, its soundtrack of '80s and '90s hits, its quotable dialogue, its star-studded cast and more.

Aside from Sorvino and Kudrow in the titular lead roles, the comedy starred Janeane Garofalo, Alan Cumming, Camryn Manheim and Elaine Hendrix, as well as Justin Theroux in the small-yet-memorable role of Clarence the cowboy.

And as Sorvino tells PEOPLE of the sequel, "Almost every single character from the original that was important is coming back."

"This is all pending, them making deals, them saying yes, but they're all in there," she adds.

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Related: 'Romy and Michele' Together Again! Lisa Kudrow and Mira Sorvino Reunite 22 Years After Hit Movie

Much of the cast of the original movie has said over the years that they'd be open to reprising their roles for a potential sequel, including Kudrow and Cumming, 59.

Sorvino also reunited with the Friends alumna at the 2022 Screen Actors Guild Awards, where the pair adorably paid tribute to their iconic looks from the film with color-coordinated outfits in honor of Romy and Michele's 25th anniversary.

In March, Sorvino spoke about the sequel during a 90s Con panel in Hartford, Conn., where she said Schiff — who also wrote the 1988 play Ladies' Room, which the movie is based on — was "working on the draft" of the script.

"Lisa and I have met with her several times and we're so excited about it," she said, adding of the original Romy and Michele, "It has become embedded in people's lives in different ways, different communities, but it means something to them. So the girls deserve a follow-up."

Daft State is available to watch now on Prime Video and Apple TV+.