Director Joss Whedon‘s superhero team-up The Avengers has recently crossed the $700 million mark in worldwide box office, and is swiftly heading towards breaking the $1 billion mark. Not surprisingly, this box office news has prompted Disney CEO Bob Iger to announce that a sequel is in development.

According to Deadline, Iger said The Avengers‘ success is “a great illustration of why we like Marvel so much.”

The Avengers directed by Joss Whedon and starring Robert Downey Jr., Scarlett Johansson, Chris Evans, Chris Hemsworth, Mark Ruffalo, Samuel L. Jackson, Jeremy Renner, Clark Gregg and Tom Hiddleston is in theaters now!

The Avengers 2 is in development.