Photo: Chris Pizzello/Invision/AP/Shutterstock

Mandatory Credit: Photo by Chris Pizzello/Invision/AP/Shutterstock (13729707aw) Anne Hathaway poses at the premiere of the film “Eileen” at the 2023 Sundance Film Festival, in Park City, Utah 2023 Sundance Film Festival - “Eileen” Premiere, Park City, United States - 21 Jan 2023

Anne Hathawayfeels the anticipation from fans surrounding the nextPrincess Diariesfilm!

The Oscar-winning star, 40, opened up to PEOPLE about the long-awaited third installment in the franchise during her appearance at the Sundance Film Festival over the weekend.

And while she didn’t reveal much about the upcoming film, which is reported to be indevelopment, she did admit that it was “thrilling” to “see the level of excitement for it.”

“We feel the exact same, and I know it’s probably very frustrating,” she says of the nearly two-decade wait for another sequel. “It’s a process that requires patience, and so everybody should consider themselves a part of the movie business now, because this is how long it actually takes to make things.”

Ron Batzdorff/Brownhouse Prod/Botnp Inc/Kobal/Shutterstock

Editorial use only. No book cover usage. Mandatory Credit: Photo by Ron Batzdorff/Brownhouse Prod/Botnp Inc/Kobal/Shutterstock (5876562c) Anne Hathaway, Hector Elizondo The Princess Diaries - 2001 Director: Garry Marshall Brownhouse Prod/Botnp Inc USA Scene Still Family Princesse malgré elle

In November,The Hollywood ReporterandThe Wrapcited sources saying Disney is developing the thirdPrincess Diariesfilm, though Hathawayhasn’t yet signed on.

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Hathaway, who was at the festival in promotion of her latest projectEileen, has been tied to the potential next chapter in thePrincess Diariesfranchise for a few years now.

Before the release of 2016’sMother’s Day, directorGarry MarshalltoldPEOPLEthat he and the actress had been discussing another run at the movie, where she would once again take the role of Mia Thermopolis. Marshall died in July 2016.

Marshall also explained at the time thatChris Pinereprising his role fromPrincess Diaries 2: Royal Engagementalso wasn’t entirely out of the question.Royal Engagement,which marked Pine’s film debut, premiered in 2004.

“Maybe,” Marshall said at the time. “He’s quite big now, you know.”

Princess Diaries 3 in the Works: Report

One name that appears unlikely to return for the film isJulie Andrews, who toldAccess Hollywoodin December that transforming into Queen Clarisse Renaldi once more may be a long shot.

“I think we know thatit’s probably not going to be possible,” Andrews, 87, said. “It was talked about very shortly after [the second sequel] came out, but it’s now how many years since then? And I am that much older, and Annie the princess, or queen, is so much older. And I am not sure where it would float or run.”

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Still, Hathaway always knew the original 2001 film would be a hit. As shetold PEOPLE back in January 2019, “Getting the script, it just had that feeling…I touched it, and it was electric.”

“Getting to make it and be on set every day, I got to hug Julie Andrews every day,” Hathaway added. “That part was also very, very, very magical.”

source: people.com