According to Deadline Hollywood Daily, director Jon Favreau has officially reached a deal with Marvel Studios to direct Iron Man 2.

It's been assumed all along, but Favreau technically hadn't signed on for the film - which is targeted for an April 30, 2010 release - until now.

Robert Downey Jr. had a sequel clause in his contract, so he's been on board from the beginning. Terrence Howard and Gwyneth Paltrow are likely to return for the Iron Man 2, as well.