Brace yourself, because it’s really happening: Mike Myers has officially signed on for Austin Powers 4.

There was speculation 3 years ago that a fourth Austin Powers movie was coming, but that rumor quickly dried up. The real question is, will audiences bother? Is this really a movie worth making?

Of course, this isn’t the only project in Myers’ pipeline: he’s also set to become a first-time dad in the next few months.

Our favorite time-traveling spy was last seen in 2002′s Goldmember, costarring a fresh-faced, 21-year-old Beyoncé in her first movie role.

Mike Meyers‘ rep told the New York Post yesterday that the comedian is expecting his first child with his new wife Kelly Tisdale (no relaysh to Ashley that I know of, but I guess that would be cool.) The news came shortly after Kelly was seen out-and-about in New York with a baby bump and “glowing.”

This is great news for Mike, who I’ve enjoyed since Wayne’s World and who I was kinda depressed to hear was getting a divorce from his ex-wife Robin a few years back. The two were together for 12 years and her mother served as the inspiration for Mike’s famous “Coffee Talk” bit on Saturday Night Live.

This should be fun. If ScarJo is actually knocked up, their babies should be around the same age.

Word on the street is that Mike Myers is in the early stages of reliving his glory days by penning a fourth Austin Powers movie. This is probably a wise move, seeing as everything else Mike Myers touches these days seems to turn to box-office crap.

However, Myers is moving away from his tried-and-true Austin Powers formula: this upcoming film will reportedly focus on the relationship between Dr. Evil and his son, Scott Evil, played by Seth Green. “It’s very personal with a father and son theme loosely based on his own life,” says an insider.

What do you guys think?

Is a fourth Austin Powers a good idea?

And who will be cast as the hot chick???

After two relatively ill-received attempts at live acting in film (Alpha Dog and Black Snake Moan), Justin Timberlake is hoping the third time’s the charm, and has signed on to play opposite Mike Myers in the upcoming The Love Guru.

Storyline revolves around an American (Myers) raised by gurus on an Ashram in India. Returning to the U.S. to make a fortune in the self-help biz, his unorthodox methods are put to the test when he provides marriage counseling to a hockey star. The wife of the hockey star retaliates by starting to date a rival player (Timberlake).

The movie also stars Jessica Alba, so I really think this has potential in the gossip world.

Alba’s been spotted recently with her on-again-off-again boyfriend, Cash Warren, but it’s obvious the two are on shaky ground. Relationships with Jessica Biel have a four-to-six-month shelf live, so you know that’s going to be winding down soon. I smell hot co-star sex.