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The Happy Endings actor previously said that he tried to persuade the original's Arnold Schwarzenegger to reprise his secret agent Harry Trasker role for director James Cameron in an update.
Arnold has now claimed that a follow-up to the 1994 action comedy, co-starring Jamie Lee Curtis, will go before cameras when Schwarzenegger's term as California's governor is over, according to the New York Times.
He said: "All I know is Jim Cameron's making it and Arnold and I are going to be in it, and it starts shooting in 14 months, the day after Arnold stops being governor of California."
He added: "It's not going to be called True Lies II, but it might as well be. I can live with that."
It was reported earlier that Curtis's striptease in True Lies was named the best movie scene in history.
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