'Top Gun' fans are thrilled after Tom Cruise revealed some special news.

FOX's Jacquelyn Karl reports:

(Top Gun) "I feel the need... the need for speed!"

Tom Cruise confirming that a "Top Gun" sequel is in the works...

(Kenny Loggins) "Highway to the danger zone."

The movie had long been rumored...

(Top Gun) "It's classified. I could tell you, but I'd have to kill you."

The 1986 film starring Cruise as naval pilot Maverick received several Oscar nods, including a win for 'Best Original Song'

(Berlin) "Take my breath away."

Cruise making the announcement during an Australian morning news show, saying filming will probably begin early next year.

Jacquelyn Karl, FOX News.

Follow Jacquelyn Karl on Twitter: @Jacquelyn_Karl