Did Keanu Reeves just pour cold water on 'Bill & Ted 3' project?

Actor Keanu Reeves has cast doubt on the threequel in Bill & Ted series, saying he does not know if the new film is a "reality".

The 53-year-old actor's comments came two months after it was announced that Reeves (Ted) and his onscreen partner-in-crime Alex Winter (Bill) are returning for the third instalment of Bill & Ted after a gap of around 27 years.

"I don't know if it's a reality. We've been trying for a long time to get that film made, and it still has its challenges. I really love the characters, and I think we have a good story to tell. Part of it is show business stuff financing, rights, deals. Nothing creatively," Reeves told Yahoo! According to The Hollywood Reporter, the new film - Bill & Ted Face the Music - was said to be in works with Dean Parisot as director.

It was being said Reeves and Winter will reprise their iconic roles as Ted "Theodore" Logan and Bill S Preston Esq, respectively.

Original creators Chris Matheson and Ed Solomon were said to have penned the script.

Earlier, the actor duo said they are elated to head back to the world of the two time-travelling metalheads.

"We couldn't be more excited to get the whole band back together again. Chris and Ed wrote an amazing script, and with Dean at the helm we've got a dream team," Reeves and Winter said in a statement.

The film was said to be in the pre-production stage.

First two instalments in the franchise were - Bill & Teds Excellent Adventure (1989) and Bill & Teds Bogus Journey (1991).