Expected to take part in the April 23 panel are Mike Myers and Dana Carvey -- who played best buddies Wayne and Garth first on "SNL," then in two hit movies -- as well as Penelope Spheeris, the director of the first film, which was released in 1992. Michaels was a producer on the films.
The Hollywood Reporter said the panel is a highly anticipated event since Myers prevented Spheeris from directing the blockbuster's 1993 sequel because she ignored his editing suggestions for the original.
Carvey and Myers also had a falling-out after Carvey accused Myers of using his impression of their boss Michaels for the Dr. Evil character in Myers' Austin Powers franchise, the entertainment industry trade newspaper said.
"We're all getting too old to be pissed," Spheeris told THR. "'Wayne's World' has such a beautiful, uplifting spirit about it. Why should there be a dark cloud? This is going to be cathartic. Everyone's going to walk out of there high -- sort of like they did when they watched the movie."
Notable deaths of 2014 [PHOTOS]
Alyssa Milano talks Savi's fate on 'Mistresses'