Nicole Kidman Confirms She and Sandra Bullock Will Star in the Practical Magic Sequel: 'There's a Lot More to Tell' (Exclusive)

Nicole Kidman is set to star in Practical Magic 2 alongside Sandra Bullock!

The Oscar winner, 56, confirmed she'll reprise her role as Gillian Owens in the sequel to 1998's Practical Magic in an interview with PEOPLE on Thursday, June 13. She shared the news ahead of the premiere of her upcoming Netflix film with Zac Efron and Joey King, A Family Affair.

Bullock, 59, will also reprise her role as Gillian's older sister Sally, Kidman says.

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"Yes I will be in it. And Sandy will be in it. And that's that," she laughs. "There's a lot more to tell which is why we go, 'OK, this is kind of interesting now to be able to do this.'"

Kidman adds, "[We] found a way in."

PEOPLE first reported that the duo was in talks to star and executive produce in the sequel to the hit 1998 fantasy drama on June 10.

Akiva Goldsman, the writer behind A Beautiful Mind, has been tapped to write the screenplay.

Rumors that a sequel to the 1998 hit began late on June 9, when the film became available to stream at midnight on Max in an apparent nod to the film's "midnight margaritas" scene.

The original Practical Magic film, based on the 1995 novel by Alice Hoffman, follows sisters Gillian and Sally who were raised by their aunts after the tragic death of their parents. When the men they're romantically involved with keep dying, the family joins forces to ward off a curse that was meant to keep any women in their family from ever falling in love.

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There are three other books in Hoffman's Practical Magic series, including two prequels, The Rules of Magic (2017) and Magic Lessons (2020) and a sequel called The Book of Magic (2021).

 In 2019, HBO attempted a reboot of the Practical Magic, which was going to to be based on The Rules of Magic, per Variety. However, that show never made it to air.

Kidman and Efron's upcoming romantic comedy A Family Affair hits Netflix June 28.