Time to get excited, X-Men fans!

The next chapter in the franchise is called X-Men Origins: Wolverine, according to Variety.

Starring Hugh Jackman (of course) and directed by Gavin Hood, the film is set to open May 1, 2009. The superhero flick will explore the claw-wielding character Wolverine's violent and romantic past, along with his complex relationship with Victor Creed and the ominous Weapon X program, as well as his encounters with other mutants.

Liev Schreiber is in final talks to take on the role of a younger version of nemesis William Stryker, played by Brian Cox in X2.

A spin-off for Magneto is also being discussed.