"Well, Owen and I are good buddies and we stay pretty close in touch," Nelson told TV's Access Hollywood.
"[Owen] is the one who asked me if I wanted to do it. I said, 'Let's do it.'"
Nelson joins a roster of stars -- including Penelope Cruz and Justin Bieber -- who will be seen in the eagerly awaited followup to 2001's Zoolander. The film is set for theatrical release Feb. 12, 2016.