It’s been thirty years this summer since Pee-Wee Herman made his big screen debut in Pee-Wee’s Big Adventure, and over five years since Paul Reubens made his return to the Playhouse in a stage show revival of the Pee-Wee Herman Show on Broadway, leaving many to wonder if we’d ever see that red bow tie or hear that particular laugh ever again. But the long, long wait is finally over, Pee-Wee fans, as Netflix and producer Judd Apatow have officially announced the new movie Pee-Wee’s Big Holiday will be making its debut on the streaming service later this year.

Paul Rust and Pee-Wee’s creator/alter-ego Paul Reubens wrote the script, and Inside Amy Schumer’s John Lee will be making his feature directing debut with Pee-Wee’s Big Holiday. In the film, a fateful meeting with a mysterious stranger inspires Pee-wee Herman to take his first-ever holiday in this epic story of friendship and destiny. Reubens-as-Pee-Wee remarked, “Judd and I dreamt up this movie four years ago. The world was much different back then— Netflix was waiting by the mailbox for red envelopes to arrive. I’ve changed all that. The future is here. Get used to it. Bowtie is the new black.”

The collaboration of a new Pee-Wee movie produced by Judd Apatow has been rumored for years. The movie was originally supposed to have a theatrical release, but the huge amount of money needed for a print and advertising campaign made a release in theaters seem cost prohibitive, especially on a project that mostly has cult appeal. Netflix has a rather large slate of movies coming to their streaming service first, like the sequel to Crouching Tiger, Hidden Dragon, so according to Reubens and Apatow, it was the perfect fit. If Pee-Wee’s Holiday proves successful, could Netflix produce a new run of Pee Wee’s Playhouse? I wouldn’t count it out if I were you.

HT: Deadline