Columbia Pictures has set a May 25, 2012 release date for the Barry Sonnenfeld directed 3D sequel, Men in Black 3. Tommy Lee Jones and Josh Brolin are currently in negotiations to join the cast and Will Smith has already signed on.

Rick Baker has reportedly been designing and building creatures, Bo Welch has been designing sets, and David Koepp has been polishing a script by Etan Cohen, so the pre-production is definitely underway.

[Source] Deadline