Because nobody puts Baby in a corner.
Studio CEO Jon Feltheimer confirmed the news on an earnings call Thursday, referring to it as "one of the worst kept secrets in Hollywood," according to the publication.
"It will be exactly the kind of romantic, nostalgic movie that the franchise's fans have been waiting for and that have made it the biggest-selling library title in the company's history," he reportedly said.
The 1987 film starred Patrick Swayze and Jennifer Grey as dance instructor Johnny Castle and vacationer Frances "Baby" Houseman who find love (and a now-iconic dance routine) at a holiday resort.
Grey is reportedly set to star in the sequel as well as executive produce it. Swayze died at age 57 in 2009 of pancreatic cancer.
The original film sparked other projects including two "Dirty Dancing" TV series, a TV movie, a musical and the 2004 film "Dirty Dancing: Havana Nights."