The sequel to "Dumb and Dumber" has been green-lit by Universal Studios and will reunite Jim Carrey and Jeff Daniels, Entertainment Weekly reported.

The sequel is formally titled "Dumb and Dumber To" and features the directors of the original film, Farrelly brothers - Peter and Bobby. According to the Associated Press, Carrey and Daniels, the original stars of the movie, approached the directors two years ago about a sequel.

Carrey has always had a famous self-imposed rule against reprising roles from previous films and against sequels in general.

"Jim has been against all sequels, and you know, understandably so. ... But he turned 50 and that will mellow you out, and suddenly he's going, 'Let's have some fun. ... Come on,' and we're going, 'Great,'" Daniels said Wednesday. "So the Farrellys said, 'This isn't a money grab. Let's really write a great second movie that takes the original and then blows it up even further, and so I think they did that."

The original "Dumb and Dumber" was released in 1994 and was the directorial debut for the Farrelly brothers. After two years of pre-production, Warner Bros. passed on the film and Universal stepped in to take it. The film does not have an official release date.

"It's taken two years to get the studios and all that stuff worked out," Daniels said. "We had a lot of 'no' for two years and finally 'yes,' it's coming around, and I think it's got a chance to be I hope better than the first one."

Daniels said the plot centers around middle-aged Harry and Lloyd, whose IQ's have gone up by one point combined.

"It's a frightening thing," Daniels said. "You're going to see the two of us standing there trying to put thoughts together and you want to put underneath, 'Kids don't do this at home.' It's that stupid."

On Wednesday's edition of "The Late Show with David Letterman," the show's host asked Daniels about the release of the sequel.

Daniels replied, "get ready, America."