Tom Cruise and Val Kilmer Gear Up for 'Top Gun' Sequel: 'We Finally Figured Out the Story' (Video)

After the announcement on May 24 that a "Top Gun" sequel is officially in the works, Tom Cruise and Val Kilmer -- who played Maverick and Iceman in the original film-- haven't held back in fueling the buzz.

Cruise couldn't contain his excitement for the film "Top Gun: Maverick" during an appearance on Tuesday's "Tonight Show."

"I'm freaking out," he told Fallon, "We finally figured out the story and it's really exciting.”

The actor said he's looking forward to working with co-star Val Kilmer and the film's original producer, 73-year-old Jerry Bruckheimer.

"He's one of the greatest producers in movie history," Cruise said of Bruckheimer.

While he didn't go into too much detail about the movie, Cruise told Fallon that the movie will have the same tone as the first-- with intense high flying machines and volleyball included. As far as where they are in the production, Cruise said: “It's far down the line, there's no turning back at this point."

Back in November when social media haters said Kilmer was "too old and fat" for a "Top Gun" sequel he clapped back. Kilmer didn't hesitate to show that he's fired-up about the new film tweeting another photo Tuesday night in which he's wearing an Iceman T-shirt.

There you have it-- the "Top Gun" crew is officially back on the highway ... to the danger-zone of course.