Jan. 25 (UPI) -- Anne Hathaway says work on Princess Diaries 3 is underway.
The 36-year-old actress gave an update on the possible new sequel during Thursday's episode of Watch What Happens Live.
"There is a script for the third movie," Hathaway confirmed. "There is a script. I want to do it, [my co-star] Julie [Andrews] wants to do it, Debra Martin Chase, our producer, wants to do it. We all really want it to happen."
"It's just we don't want to do it unless it's perfect, because we love it just as much as you guys love it," she explained. "It's as important to us as it is to you and we don't want to deliver anything until it's ready, but we're working on it."
Hathaway played Mia Thermopolis in The Princess Diaries (2001), which was based on the Meg Cabot novel of the same name, and The Princess Diaries 2: Royal Engagement (2004). Cabot told Entertainment Weekly in July 2017 that a script for a third film was in the works.
"I would love to sit and talk about [it], but I can't. I'm not allowed. But it's really more following the movie than the books," the author said of the sequel.
"I think of them as two different universes," she elaborated. "Like there's The Princess Diaries universe that I created, which is, you know, amazing, and the Disney universe, that they created, which is equally amazing."
Hathaway will next star in Serenity, which opens in theaters Friday. She appeared on WWHL with her co-star Matthew McConaughey, who laughed off rumors he once dated Janet Jackson during a game of Plead the Fifth.
"We went and had dinner," the actor said. "That was sort of it."