Update Aug 3
From Jim Cameron (what a classy guy):
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Harry,
Again, as always, thanks for checking the facts. I think Tom was joking. There are no plans for a True Lies 2. I don't know about the creative direction thing... I'm always down for a good action/comedy ( actually we always classified the film as a "domestic epic"). But since September 11, I've never felt comfortable generating laughs with nuke-toting Islamic fundamentalist terrorists. True Lies, even though it has a cautionary thread underneath the pratfalls, is in a strange way a product of a more innocent time.
But if we ever do another True Lies, I wouldn't dream of doing it without Tom. He's a good friend and a very funny guy.
Jim out
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Next year?!

I want a little of what Tom is smoking.

Of course if it ends up being true, that would be cool
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Back in January, Tom Arnold said that if everything goes well, he will be able to re-unite with Arnold Schwarzenegger and director James Cameron for a "True Lies" sequel.
Now, Tom Arnold has confirmed to NY Times that as soon as Schwarzenegger leaves the governor's mansion, filming of "True Lies 2" will begin. "All I know is Jim Cameron's making it and Arnold [Schwarzenegger] and I are going to be in it, and it starts shooting in 14 months, the day after Arnold stops being governor of California," he said. "It's not going to be called 'True Lies II,' but it might as well be. I can live with that."
During all the interviews at Comic-Con, not once did Cameron mention "True Lies 2." He did, however, mention many other projects that he is considering as his next, including "Battle Angel" and "The Dive."
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